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Seattle & Northwest  + Pacific Northwest  + Apartments  |  August 22, 2022
PCCP Provides $68M Construction Loan for Meridian, ID Apartments
Mark Nieto
By: Mark Nieto

Boise Apartment Community Gets $68M Construction Loan

PCCP, LLC has provided a $68 million senior construction loan to a JV between the Rockworth Companies and the Gasser Family for the ground-up development of a 336-unit multifamily property in Meridian, ID. 

“PCCP saw this as an opportunity to lend to an experienced partner on this Class-A development in a city that has been experiencing strong growth and demand for rental product over the past several years,” said PCCP VP Alexandra Schultz. Meridian is a submarket of Boise, ID.

Construction for Village Apartments will begin later this year with delivery expected in late 2024. The garden-style community will consist of six, four-story buildings and a central clubhouse. The one-, two- and three-bedroom units will average 850 square feet and feature stainless steel appliances, vinyl plank floors and solid surface counters. Community amenities will include a pool, spa, fitness center, game room and playground.

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PCCP, LLCRockworth Companies

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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