PCCP provided an $84 million senior loan to Pacific Development Partners for the refinance of Montreux, a 335-unit, Class A multifamily community located at 5550 E. Deer Valley Drive in Phoenix, AZ (North Phoenix submarket). The three-building property was delivered in 2019 and is approximately 89% leased. The financing was marketed by James Bach of CBRE.

The unit mix includes a one-, two-, and three-bedroom units with an average size of 1,058 square feet. The apartments feature two pools, a fitness center, a rooftop clubhouse, pickleball and tennis courts, a game room with a multi-sport simulator, and structured parking. 

Directly across the street is High Street, a 175,000-square foot lifestyle corridor featuring Sprouts Farmers Market, a live comedy venue, cafés, fitness studios, salons, and boutique retailers. One block south, Desert Ridge Marketplace offers 1.2 million square feet of open-air shopping anchored by Target, Albertsons, Nike, and Sephora, along with numerous restaurants and entertainment options including Starbucks, Chipotle, and AMC Theatres.