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Phoenix & Southwest  + Apartments  |  June 29, 2020
David Cohen
By: David Cohen

PCCP Provides $39M Construction Loan for Glendale Apartment Project

PCCP has provided a $39.4 million senior loan for the ground-up development of Acero Glendale, a 352-unit, garden-style apartment project in Glendale.

Located at the corner of 95th Avenue and Missouri Avenue, the project will include 18 residential buildings. The development is expected to deliver its first units in mid-2021 with the entire project being completed in 2022. Unit interiors will include hard surface countertops, vinyl plank flooring, air conditioning, in-unit laundry rooms, private patios and stainless steel appliances. Amenities will feature two pools, a fitness center, leasing office, community room and lounge with kitchen as well as outdoor common areas.

Adam Deermount, Steve Sims and John Meek of RanchHarbor and David Kidder of Landmark Real Estate arranged the financing on behalf of the borrower, IDM Cos.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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