CrossHarbor Capital Partners Secures $78.5 Million Loan For Multifamily Project In Tempe, AZ

The Alyssa is a 335-unit multifamily apartment community located at 98 South River Drive in Tempe, Arizona. The construction loan is valued at $78,500,000, with the project having been developed in 2024. The community includes a range of unit types from studio to three-bedroom apartments and features amenities such as a pool, fitness center, coworking space, and pet spa.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $78,500,000
• Address: 98 South River Drive
• Market: Tempe, AZ
• Units: 335
• Lender: P.J. Yeatman - Corten Real Estate Partners
• Landlord: Samuel Byrne & William Kremer - CrossHarbor Capital Partners
• Brokers: Brad Miner, Drew Lydon, Henry Smith-Hasti & Jack Kurschat - JLL
• Loan Type: Construction

The loan was arranged by JLL for CrossHarbor Capital Partners, identifying P.J. Yeatman of Corten Real Estate Partners as the lender. The transaction involved several key brokers from JLL, including Brad Miner, Drew Lydon, Henry Smith-Hasti, and Jack Kurschat, facilitating the loan for the apartment community development.