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Phoenix & Southwest   /   February 17, 2021

Lisa Brown
By: Lisa Brown

A Tale of Two Multifamily Loans in Goodyear and Champaign

Black Bear Capital Partners recently arranged two separate financing transactions totaling $43.6 million. Matt Stearns and Raymond Zanca of BBCP arranged the financing package.

In the first transaction, BBCP arranged $31.5 million in construction financing on behalf of a private investor for Solace at Ballpark Village, a ground-up residential development in Goodyear, AZ. The three-year loan provided by Benefit Street Partners Realty Trust will be used to replace the existing land loan and fund construction costs for the 211-unit multifamily development located at 2571 South Estrella Parkway. The complex is located within a qualified opportunity zone.

In the second transaction, the BBCP team of Stearns and Zanca arranged a $12.1 million 35-year loan featuring a fixed rate of 2.3 percent on behalf of a private investor. The asset was a 285-unit multifamily townhome totaling 256,230 square feet in Champaign, IL.

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About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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