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George Smith Partners Arranges Financing for $150M Arizona Spec Development

George Smith Partners completed $105.5 million in financing for a portion of The Watermark Tempe, a $150-million, mixed-use, ground-up development in Tempe, AZ. The master-planned property, which is being developed by Fenix Development, Inc., is located at 430 North Scottsdale Rd. on Tempe Town Lake.

George Smith Partners’ Scott Meredith arranged $25 million in mezzanine construction financing and supported Fenix in negotiating an $80.5 million senior loan, all of which will fund the speculative development of a 15-story, 250,000-square-foot, Class A high rise office building and 44,000 square feet of lifestyle retail space.

“This is a landmark project for Tempe,” says Meredith. “As the very first high-end, truly mixed-use project in this city, there is tremendous potential to leverage Tempe’s high-tech employment, rapidly growing population, and affluent local community. The challenge, however, was in navigating the perceived historical volatility of the Tempe and Phoenix office markets.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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