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5/14/25
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Scottsdale, AZ-based Empire Group has obtained a $79.5 mil refi loan on Village at Bronco Trail, a new 354-unit BTR development in the Phoenix market. The roughly 30-acre Village at Bronco Trail site at 29th Ave at Sonoran Desert Dr is slated for first deliveries in Fall of 2025. Construction of the project got underway in 2023.
The community will consist of 354 units and will offer one-, two- and three-bedroom units with floor plans averaging 923 sf. Amenities will include detached garages, a fitness center, car wash station, playground, a dog park, grilling area, resort-style pool, clubhouse, and common area open spaces. Each home will have a private yard, kitchen with quartz countertops, stainless steel appliances and backsplashes, full-size washers and dryers, and upgraded smart-home features and technology.
The development is located in the rapidly growing North Phoenix submarket, near Taiwan Semiconductor Manufacturing Company’s (TSMC) $165-billion chip manufacturing plant, Amkor Technologies $2bil testing and production facility, and Hyperion Technologies $1.5 bil manufacturing plant.
Kyle McDonough, George Maravilla, David Stull and Noah Schott with Tower Capital
originated the non-recourse construction financing via a debt fund.
“The BTR market continues to experience strong growth and demand in markets across the Sunbelt,” said McDonough. “The refinance of an existing construction loan will provide the capital Empire Group needs to bring the Village at Bronco Trail to fruition. This is the 16th project we’ve arranged financing for Empire Group in the past several years.”
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