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Northmarq Arranges Construction Loan for 345-Unit Mesa Multifamily Community
Northmarq’s debt and equity team of Brandon Harrington, and Tyler Woodard secured $85.31 million in construction financing for the development of The ONE @ Mountain Vista in Mesa, Arizona. The stack included both debt and equity covering up to 80% of the construction costs. The ground-up multifamily project is being developed by Talos Holdings, a Scottsdale based developer.
Located near the intersection of Signal Butte Road and Hampton Avenue, The ONE @ Mountain Vista is a 345-unit, multifamily property. Construction permits are in-hand and graters are ready to begin site work for the community within days.
The ONE @ Mountain Vista community will include a resort style pool, fitness center, and a dog park and dog wash. Resident amenities include a state-of-the-art access control system, including a gated entrance that residents control through their smart phone.
The future project consists of approximately 26 studio units, 127 one-bedroom units, 172 two-bedroom units, and 20 three-bedroom units, with an average unit size of 875 sq. ft.
- ◦Development
- ◦Financing
