Recently Financed - CBRE West Secures Construction Financing for Bella Olivia, a Build-to-Rent Community

Click here to view with images.
To ensure delivery to your inbox, please add cbredsfwest@cbre.com to your address book.
 
Capital Markets
Just Financed
BELLA OLIVIA - BUILD-TO-RENT COMMUNITY | PHOENIX MSA
CBRE
Transaction highlights
Loan Amount
$35,250,000
Term
30 Months with one (1) 6-Month extension option
Lender Type
Debt Fund
Interest Only
Full-Term
Loan-to-Value
80% LTC
Recourse Requirement
Non-Recourse
Deal Overview
Bella Olivia received a $35,250,000 construction loan, the Property is currently in framing and is anticipated to finish construction in the spring of 2025, with initial occupancy starting in the summer of 2024.
The community will feature one-, two- and three-bedroom units across 16 residential buildings. The community will feature a resort-style pool and spa, designated walking trail, tot lot and dog park.
The Sponsor is Bela Flor Communities, an Arizona-based real estate development company focused on developing single-family and multi-family residential communities throughout metro Phoenix. Over the last five years, the company has built 1,000 units in the Valley.
For more information, please contact:
Bruce Francis
Vice Chairman
+1 602 735 1781
bruce.francis@cbre.com
Doug Birrell
Executive Vice President
+1 801 869 8041
doug.birrell@cbre.com
Shaun Moothart
Executive Vice President
+1 949 509 2111
shaun.moothart@cbre.com
Bob Ybarra
Executive Vice President
+1 702 369 4859
robert.ybarra@cbre.com
Nick Santangelo
Executive Vice President
+1 503 221 4821
nick.santangelo@cbre.com
Jim Korinek
Executive Vice President
+1 415 772 0416
jim.korinek@cbre.com
Anna Britt
Associate Vice President
+1 949 509 2131
anna.britt@cbre.com
Carly Grabher
Senior DSF Analyst
+1 602 735 1777
carly.grabher@cbre.com
Matt Thorp
Senior DSF Analyst
+1 503 221 4846
matt.thorp@cbre.com
Ryan Gagliano
DSF Analyst
+1 602 735 5668
ryan.gagliano@cbre.com
Andrew Post
DSF Analyst
+1 702 369 4857
andrew.post@cbre.com
CBRE
cbre.com/dsf
Unsubscribe

 You may also unsubscribe by calling toll-free +1 877 CBRE 330 (+1 877 227 3330).

Please consider the environment before printing this email.

CBRE respects your privacy. A copy of our Privacy Policy is available online. For California Residents, our California Privacy Notice is available here. If you have questions or concerns about our compliance with this policy, please email PrivacyAdministrator@cbre.com or write to Attn: Marketing Department, Privacy Administrator, CBRE, 200 Park Ave. 19-22 Floors, New York, NY 10166.

Address: 4301 La Jolla Village Drive Suite 3000 Suite 700, San Diego CA 92122

THIS IS A MARKETING COMMUNICATION

© 2024 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable but has not been verified for accuracy or completeness. CBRE, Inc. makes no guarantee, representation or warranty and accepts no responsibility or liability as to the accuracy, completeness, or reliability of the information contained herein. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk.

CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.

Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.