By Gail Kalinoski | Multi-Housing News
The Hampton Group has secured $141 million in construction financing for the development IKONIC Scottsdale, a 14-story, 245-unit luxury multifamily rental tower in Scottsdale, Ariz. Completion is slated for 2028.
Greystone arranged the loan, which consisted of a senior mortgage provided by Bank OZK and a mezzanine loan from Related Fund Management.
Greystone’s team was led by Drew Fletcher, president at Greystone Capital Advisors & Greystone Construction Capital, Managing Director Bryan Grover and Vice President Jesse Kopecky. The team served as exclusive advisors for the transaction.
What’s going up:
IKONIC Scottsdale is being designed by Gensler and constructed by Gilbane Building Co. The tower will rise at 16640 North Scottsdale Road, at the intersection of North Scottsdale and Bell roads. The community will feature a mix of one-, two- and three-bedroom residences averaging approximately 1,062 square feet.
