New Phoenix Multifamily Project Secures $45 Million Refi
NewPoint Real Estate Capital provided the 10-year Fannie Mae loan to refinance a build-to-rent 200-unit community in Phoenix. NewPoint’s John Motzel wasn’t put off by the current economic conditions, “In spite of the climate of rising interest rates, we were able to lock at favorable rates for the borrower with five years of interest only.”
The recently built community has 200 detached apartment homes featuring private backyards, clubhouse, fitness. center, heated pool and spa and controlled entry.
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.