April 19, 2024 1:25 pm
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Laveen BTR secures construction financing

By Real Estate Daily News Service

PHOENIX – January 12, 2023 – CBRE has secured $32.1 million in construction financing for the development of Legacy at Laveen Village, a 172-unit Build-to-Rent (BTR) housing community located south of Southern Avenue along 35th Avenue in Laveen, Ariz.

Bruce Francis, Doug Birrell, Bob Ybarra and Shaun Moothart with CBRE Capital Markets’ Debt and Structured Finance team in Phoenix secured the non-recourse, full-term, interest only, 65% loan-to-cost (LTC) construction loan on behalf of the Scottsdale based developer, SIM Real Estate Group.

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