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10/12/16
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PB Bell Companies has obtained $116.4 mil in financing on four multifamily properties in Arizona. The properties were financed in two separate loans containing two properties per loan.
The first portfolio refinance consists of Tela Verde and Tuscany Palms, both located in Glendale, AZ and consisting of 778 total units. The properties in the second portfolio refinance, Alante at the Islands and Laguna Village, are located in Chandler, AZ and total 780 total units.
Seth Grossman, Sarah Kuebler Ryan Gandell with Meridian Capital Group assisted in negotiating both fixed-rate, non-recourse financing packages. Meridian originally financed these four properties as part of a seven-property portfolio acquisition loan for the sponsor in July 2014.
P.B. Bell currently manages more than 9,000 apartment homes, and has developed nearly 6,000 apartment units in 27 communities, many of which are award winning. Founded by Philip Bell in 1976, P.B. Bell specializes in development, acquisitions and residential property management for the multifamily housing industry.
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