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Greenlight Snags $23M Construction Loan for Phoenix Development
Scottsdale-based Greenlight Communities secured $22.9 million in construction financing and joint venture equity for the development of Cabana on 99th, a 286-unit, garden-style multi-housing project in Glendale. JLL worked on behalf of the developer to arrange the joint venture equity partnership with Bridge Investment Group and a construction loan through a regional bank.
Cabana on 99th will be situated at the northwest corner of 99th and Missouri Avenues, just off Loop 101. Due for completion in 2021, the property will help meet demand for “attainable” workforce rental housing under the Cabana brand.
The property offers studio, one and two-bedroom units. Amenities include a common area designed as co-working space, swimming pool, outdoor grilling and dining, courtyard with lush landscaping and hammock garden, covered parking, controlled access and ride share locations.
JLL’s team representing the developer included Bryan Clark, Brad Miner and Daniel Pinkus.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

