|
|
2/08/17
|
Meridian Capital Group recently arranged $15.5 mil in acquisition money for the purchase of Tatum Place, a 164-unit multifamily property in Scottsdale, AZ. Tatum Place, located at 16801 North 49th St, is a two-story property situated in the highly desirable northeast section of Phoenix.
Tatum Place offers direct access to major arterial roads, including North Tatum Blvd and Bell Rd. The property is in close proximity to five of Arizona’s premier destinations for shopping, dining and nightlife, which are Paradise Valley Mall, Kierland Commons, Scottsdale Quarter, Desert Ridge Marketplace and High Street. Amenities include two swimming pools, sun decks, a spa and fitness center, an on-site laundry facility, gated access and covered parking spaces.
Meridian’s Seth Grossman and Sarah Kuebler arranged the three-year loan, provided by a debt fund. It features full-term, interest-only payments and two one-year extension options.
“Approximately 25% of Tatum Place’s units interiors have been upgraded and the property is in close proximity to major highways, as well as a variety of restaurants and shops, which makes this a desirable property for home seekers,” noted Grossman.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
