IPA’s Brian Eisendrath Arranges Refi on Phoenix Multifamily
Institutional Property Advisors, a division of Marcus & Millichap, arranged the $63.5-million refinancing of Stonebridge at Paradise Valley, a 384-unit multifamily property consisting of 26 buildings at 4315 E. Thunderbird Rd. in Phoenix. The financing was arranged by executive managing director Brian Eisendrath, in his first closing since joining IPA, and senior managing director Cameron Chalfant. CVG Properties, a private investment firm based in Scottsdale, was the borrower in the deal.
“CVG has performed flawlessly on their execution since they purchased the property in 2014,” said Eisendrath. “With the success of their business plan and the tremendous amount of rent growth in Phoenix, we were able to procure a cash-out refinance that returned over $35 million of equity back to the partnership.”
The 10-year fixed-rate loan has an interest rate of 3.11% and was arranged through IPA’s strategic alliance with M&T Realty Capital Corporation.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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