$17M Refi Obtained for Phoenix’s View 32

Watt Companies of Southern California secured a $17 million permanent-fixed loan to refinance View 32, a 135-unit multifamily property in Phoenix. The property at 10801 N. 32nd St. delivered in 2018.

Michael and Ory Schwartz with NorthMarq arranged the Freddie Mac 10-year loan, which came with three years of interest-only payments and a 30-year amortization schedule. “NorthMarq was able to put this deal under application as the property was nearing stabilization, by getting Freddie Mac comfortable that the subject would be fully stabilized by the time the loan went in for full approval,” Schwartz said.

View 32 offers one and two-bedroom units. Amenities include fitness center, spa and pool, business center, clubhouse, lounge and conference room.

For comments, questions or concerns, please contact Amy Sorter