PCCP Secures $53M Refi Loan for Glendale Apartments
PCCP has provided a $53 million bridge loan to P.B. Bell for the refinance of Hangar at Thunderbird, a newly built 266-unit, 19-building apartment community located at 15301 N 37th Avenue in Glendale. The project just completed its final stage of construction and initial phase of lease-up, after its first units and community amenities delivered in December 2022.
The property features one-, two-, and three-bedroom floorplans across 19 two- and three-story buildings with an average unit size of 884 square feet. The units include a private patio or balcony. Amenities consist of a pool and spa, outdoor dining area with grilling stations, tenant clubhouse, fitness center and EV charging stations. The property was also designed with ample private workspaces to cater to workers who have a hybrid or fully remote work schedule.
The availability of land in the West Valley has attracted healthcare, aerospace/defense, distribution, and advanced manufacturing companies to the region.
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.