Cross Harbor Scores $78.5M Financing for Tempe Rental Community
CrossHarbor Capital Partners landed construction take-out financing in the amount of $78.5 million for The Alyssa, a 335-unit Class A multifamily community in Tempe, Arizona.
Delivered in 2024, The Alyssa is a four-story community offering studio, one-, two-, and three-bedroom floor plans ranging from 504 to 1,658 square feet with an average unit size of 881 square feet. The property offers amenities including a swimming pool with fountain features and sundeck, outdoor lounge with fireplace and private dining spaces, Peloton-equipped fitness center with cardio and strength equipment, co-working lounge with coffee bar, 605-space controlled-access parking garage with EV charging stations, and a community pet wash station. The Alyssa achieved stabilization just 18 months after delivery.
JLL’s Capital Markets Debt Advisory team arranged the loan on behalf of the borrower. The team was led by Brad Miner, Drew Lydon, Jack Kurschat and Henry Smith-Hastie.
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Banyan Street Repositioning Former Atlanta Financing Center
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Madison Realty Capital Provides $98M Construction Loan for WA Residential Project
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout