Azorim North America Secures $68.8 Million Construction Loan From Western Alliance Bank For Miroza Tower 4

The asset involved in this transaction is a multifamily property located at 599 Ridge Hill Boulevard in Yonkers. Azorim North America is the landlord of this development, which is the final phase of the Miroza at Ridge Hill master-planned community, consisting of a total of 174 residential units. The property is associated with a construction loan amounting to $68.8 million, provided by Western Alliance Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,800,000
• Lender: Western Alliance Bank
• Landlord: Azorim North America
• Brokers: Jonathan Zilber, Joel Chetner & Mackenzie Kerin - Walker & Dunlop
• Loan Type: Construction

This transaction was arranged by the brokerage firm Walker & Dunlop, with representatives Jonathan Zilber, Joel Chetner, and Mackenzie Kerin involved in facilitating the loan. The financing structure secured is a fixed-rate, interest-only construction loan aimed at supporting the development of the Miroza Tower 4 project.