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Phoenix & Southwest  + Arizona  + Apartments  | 
JLL Capital Secures $49.4 million for construction loan for Wexford Development

JLL Capital Arranges Building Loan for Flagstaff Apartment Project

JLL Capital Markets arranged the $49.4 million construction loan so Wexford Development could get started on Flagstaff Elkwood, a 224-unit project that will fit on 13.5 acres, three miles from downtown Flagstaff.

JLL’s Brad Miner and Eric Tupler secured the 65% loan-to-cost-ratio loan with a commercial bank. Slated for completion in late 2024, the complex will feature a mix of studio, one and two bedroom layouts spread across four, four-story buildings. Units will offer wood-style flooring and in-unit washer/dryers. On site amenities will include 6,000 square feet of retail space, a clubhouse with lounge area, fitness center and pool.

At East Butler and N. Fourth Street the project is close to Northern Arizona University.


Inside The Story

Brad Miner

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
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