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Next Wave Refi’s PHX Apartments for $21M
Southern California-based Next Wave Investors secured a $21.285 million refinancing for Westover Parc, a 160-unit, multi-housing property in Phoenix. The 2002-built community at 6515 W. McDowell Rd. was acquired by Next Wave last year for $20,750,000.
The apartment asset consists of one-, two- and three-bedroom units. The gated community, located near the Papago Freeway, also features barbecue grills and picnic areas and a fitness center.
JLL Capital Markets’ Jamie Kline, Charlie Vorsheck and Tim Brousse represented the borrower. The team arranged the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing

