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6/13/12
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Neal Churney, CCIM, Senior Vice President in Johnson Capital’s Phoenix office, has arranged a $7 mil loan for an apartment complex in Mesa, AZ. Churney was engaged by the owner, a California-based investment group, to arrange acquisition financing for the 336-unit multifamily property.
The property, which was recently acquired by the borrower, is a garden-style complex. The loan was provided by a regional bank. It has a three-year term with the first 18 months interest only.
Mesa, AZ, with a population of approximately 440,000, is located in Maricopa County roughly 20 miles east of Phoenix.
Celebrating its 25th anniversary, Johnson Capital’s services include debt placement and acquisition financing for permanent loans, construction financing and property repositioning, in addition to joint venture equity placement for individual assets, portfolios, entities and discretionary funds. The firm is a leading national commercial real estate capital intermediary with direct lender relationships through Fannie Mae, Freddie Mac, HUD and many insurance companies.
Johnson Capital’s transactions have ranged in total funding from $1 million to over $300 mil and have financed all property types, including: multifamily, office, retail, industrial and hotels. Since its inception in 1987, Johnson Capital’s aggregate transaction volume has surpassed $36 bil. Johnson Capital is one of the country’s top real estate capital advisory firms with 20 locations nationwide.
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