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CBRE Secures $35.25M Construction Loan For 112-Unit BTR Community In Peoria, AZ

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FINANCED
$35,250,000
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3

Arizona

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MultiFamily
Financed 02/01/2024
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Property Image
FINANCED

CBRE Secures $35.25M Construction Loan For 112-Unit BTR Community In Peoria, AZ

9625 West Olive Avenue

See Similar Deals
MultiFamily
Financed 02/01/2024
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Loan

CBRE has secured a $35.25 million construction loan for Bella Olivia, a 112-unit build-to-rent (BTR) community in Peoria, Arizona. The property is located at 9625 West Olive Avenue and is classified as a multifamily asset. The loan was secured on 02/01/2024.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $35,250,000
  • Units: 112
  • Market: Peoria, AZ

The loan was brokered by Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Robert Ybarra, and Shaun Moothart from CBRE. They played a crucial role in securing the construction loan for Bella Olivia.

Players

Bruce Francis
CBRE
Bruce Francis
18 deals$717.8M volume(602) 524-0826
BROKER
Jim Korinek
CBRE
Jim Korinek
11 deals$494.5M volume(650) 255-2345
BROKER
Doug Birrell
CBRE
Doug Birrell
18 deals$622.8M volume
BROKER
Robert (Bob) Ybarra
CBRE
Robert Ybarra
20 deals$897.8M volume
BROKER
Shaun Moothart
CBRE
Shaun Moothart
21 deals$793.5M volume
BROKER
Nick Santangelo
CBRE
Nick Santangelo
15 deals$523.7M volume
BROKER

Details

FINANCED
IMAGE: Bruce Francis, Robert Ybarra, Shaun Moothart, Doug Birrell, Jim Korinek & Nick Santangelo DATE: 02/01/2024 ADDRESS: 9625 West Olive Avenue MARKET: Peoria, AZ ASSET TYPE: Multifamily ~ UNITS: 112 BROKERS: Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Robert Ybarra & Shaun Moothart - CBRE LOAN AMOUNT: $35,250,000 LOAN TYPE: Construction NOTE: CBRE has secured a $35.25 million construction loan for Bella Olivia, a 112-unit build-to-rent (BTR) community in Peoria, Arizona.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,250,000.00

Monthly NOI$235,000.00
Monthly Debt Service$222,803.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00