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.
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Mark Ave Apartments
Fallon, NVPhoenix & Southwest + 2-4 Units
Learn MoreListing Status: Available Listing Type: Call for offers Price: $800,000 No. of Units: 4 Cap Rate: 4.49 Average Occupancy: 1000 Year Built: 1987 Year Renovated: 2023 Building Size: 3444 Sq ft Lot Size: 0.18 Acres No. of Stories: 1 APN: 001-494-24 Zoning Code: R2 Opportunity Zone: No Price per unit: $200,000 
Riverside Suites
Tucson, AZPhoenix & Southwest + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer No. of Units: 33 Year Built: 1968 Building Size: 28952 Sq ft Lot Size: 2.37 Acres No. of Stories: 1 No. of Parking Spots: 56 Opportunity Zone: No
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