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1/10/18
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HFF has arranged $9.5 mil in financing for The Traditions, a Class A, 160-unit multi-housing community in Mesa, AZ.
The Traditions is situated on 7.65 acres at 4450 East Southern Ave, approximately 25 miles southeast of downtown Phoenix. The community is less than a mile north of State Route 60 and near Loop 101, which offers access to several Phoenix suburbs, including Tolleson, Glendale, Peoria, Scottsdale, Tempe and Chandler.
The 11-building, two-story property consists of one- and two-bedroom units averaging 947 sf with fully equipped kitchens, full-sized washers and dryers, spacious walk-in closets and private balconies or patios. Community amenities include a clubhouse with business center, state-of-the-art fitness center, resort-style swimming pool and spa, landscaped gazebo gardens, grilling areas and gated entry.
HFF’s Zach Koucos and Jeremy Womack arranged the financing for the borrower, EPI Limited Partnership. The 10-year, fixed-rate loan was funded with Aegon USA Realty Advisors LLC.
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