Evidence of a maturing condo market in Phoenix

Rendering courtesy of DecoMHN Online

Deco Communities has landed three-year construction financing for a 110-unit condo project in Phoenix’s Midtown neighborhood. HFF arranged the $18.3 million in non-recourse financing via a commercial bank. The 60-percent loan-to-cost financing puts the total development price in the $30.5 million ballpark. HFF also arranged joint venture equity capital for the project.

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