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Phoenix & Southwest  + Phoenix  + Apartments  | 
TSMC upping Phoenix investment to $65B

Canyon Partners JV to Develop Multifamily Near Future TSMC Plant

Canyon Partners Real Estate LLC, Ascendant Capital Partners and Bond Companies have formed a joint venture to support the development of Inspire Sonoran Desert, a 560-unit, Class A multifamily community in the North Valley submarket of Phoenix. Kennedy Wilson provided the JV with a senior construction loan of an undisclosed amount.

North Valley has experienced rapid growth in recent years, following TSMC’s announcement to build a multi-phase semiconductor plant in the submarket. Inspire Sonoran Desert will be one of the closest communities in the market to TSMC.

Inspire Sonoran Desert marks Canyon’s ninth investment in the Phoenix area over the past five years. Canyon has been an active provider of debt and equity in Arizona and continues to invest in real estate projects in primary and secondary markets across the U.S. For Kennedy Wilson, the construction loan is the latest in an active year for its debt investment platform.

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About Paul Bubny

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).

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