Northmarq Arranges Financing for Casa Grande BTR Sale
Northmarq’s Phoenix Multifamily Investment Sales team has arranged the $30 million sale of Solana Place at Carlton Commons, a newly built 113-unit build-to-rent community in Casa Grande, Arizona. The team — Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca — represented the seller, D.R. Horton, America’s largest homebuilder.
CALCAP Advisors acquired the property with $21.75 million in acquisition financing secured by Griffin Martin of Northmarq’s Debt + Equity team through the firm’s in-house Fannie Mae DUS platform.
“This transaction involved numerous moving parts, including a construction post-close and hard closing deadline,” Martin said.
Completed in 2023, Solana Place features spacious three- and four-bedroom homes averaging 1,381 square feet. Each residence includes private backyards, driveways and direct-access garages.
Located at 18 S. Boniface Lane, the community sits at the crossroads of Interstate 10 and Interstate 8, providing residents with easy access to Phoenix, Tucson and Southern California.
Other News
Charlotte Library Razed, 300 Apartment Units on Way
Northwood Ravin demolished a dated Charlotte public library in order to make way for a 300-unit apartment development. The Charlotte Business Journal reports the plan is to include 21,400 square feet of retail as well. The 4.5-acre south-end property is at 101 Scaleybark Road. The retail component is part of a larger mixed-use development that...
Learn more
Terra, Fortune Ink $220M Key Biscayne Condo Financing
Terra and Fortune International Group secured a $220 million predevelopment loan from Blackstone Real Estate Debt Strategies for their planned ultra-luxury condominium development on the former Silver Sands Beach Resort property at 301 Ocean Drive in Miami’s Key Biscayne. Walker & Dunlop Capital Markets Institutional Advisory, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean...
Learn more
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 units nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout