MC Companies Refinances 300-Unit Multifamily Property In Tucson With $40.5 Million Loan

The Place at Silverbell Gateway is a 300-unit multifamily property located at 7430 North Silverbell Road in Tucson, AZ. Recently, the property underwent refinancing with a loan amounting to $40,500,000, which is a floating-rate loan provided through JLL Real Estate Capital. The property, part of a garden-style community, was completed last year and is currently 83.3% leased, with average rents at $1,611.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $40,500,000
• Landlord: MC Companies
• Brokers: Brad Miner & Drew Lydon - JLL
• Previous Loan Amount: $32,500,000 from Zions Bank

MC Companies, the landlord of the property, successfully refinanced this multifamily asset, demonstrating a strategic financial move to enhance the property's capital structure. The involvement of brokers Brad Miner and Drew Lydon from JLL facilitated the transition of financing from Zions Bank to JLL Real Estate Capital, marking a significant step in managing the asset's financial needs.