MF1 Capital Secures $66M Bridge Loan For Bella Encanta Build-to-Rent Community In Mesa, AZ

Bella Encanta, a 212-unit build-to-rent community located at 9745 East Hampton Avenue in Mesa, Arizona, has secured a $66 million bridge loan. The loan, provided by MF1 Capital and arranged for Bela Flor Communities, has a loan-to-cost ratio of 65% and a full-term interest-only structure. It is a non-recourse loan with a 24-month term and three extension options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $66,000,000
• Units: 212
• Lender: MF1 Capital
• Landlord: Bela Flor Communities
• Loan Type: Bridge
• Loan Terms: Non-recourse, full-term interest-only, 65% loan-to-cost, 24-month term with three extension options

CBRE played a pivotal role in securing the $66 million bridge loan for Bella Encanta. Acting as the intermediary, MF1 Capital successfully arranged the loan on behalf of Bela Flor Communities. This transaction marks another significant milestone for the multifamily property market in Mesa, Arizona.