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% 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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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).