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Alliance Residential Company Secures $43.5 Million Loan From Northwestern Mutual For 280-Unit Complex

Property Image
FINANCED
$43,500,000

Arizona

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MultiFamily
Financed 04/17/2025
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Property Image
FINANCED

Alliance Residential Company Secures $43.5 Million Loan From Northwestern Mutual For 280-Unit Complex

500 West Camelback Road

See Similar Deals
MultiFamily
Financed 04/17/2025
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan

The property asset involved in the transaction is a 280-unit apartment complex located at 500 West Camelback Road in Phoenix, AZ. The asset type is classified as Multifamily, and the loan amount secured for this property is $43,500,000. The rental prices for the units begin at $1,599.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $43,500,000
  • Loan Date: 04/17/2025
  • Address: 500 West Camelback Road
  • Market: Phoenix, AZ
  • Units: 280
  • Lender: Northwestern Mutual Life Insurance
  • Landlord: Alliance Residential Company
  • Broker: CBRE

The transaction involved financing from Northwestern Mutual for Christiansen Ventures' purchase, which totaled $87 million for the Broadstone Uptown PHX apartment complex. This deal highlights the participants in the acquisition and financing aspects related to the property.

Players

CBRE
CBRE
BROKERAGE
NI
Northwestern Mutual Life Insurance
LENDER

Details

FINANCED
IMAGE: 04/17/2025 ADDRESS: 500 West Camelback Road MARKET: Phoenix, AZ ASSET TYPE: MultiFamily ~ UNITS: 280 LENDER: Northwestern Mutual Life Insurance LANDLORD: Alliance Residential Company BROKER: CBRE LOAN AMOUNT: $43,500,000 NOTE: Northwestern Mutual financed Christiansen Ventures' $87 million purchase of the 280-unit Broadstone Uptown PHX apartment complex in Phoenix. The property features various unit sizes and amenities, with rents starting at $1,599.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$43,500,000.00

Monthly NOI$290,000.00
Monthly Debt Service$274,949.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00