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9/05/25
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A three-property multifamily portfolio located in the greater Phoenix metro has landed $116 mil in pre-stabilized bridge financing. The transaction enabled the refinancing of construction debt on the build-to-rent properties, with each asset at varying stages of lease-up.
Honeycutt Run, Maricopa, AZ |
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The portfolio includes: Bella Olivia, 112 units located in Peoria, AZ; Woodcrest at Power Ranch, 120 units located in Gilbert, AZ; and Honeycutt Run, 209 units located in Maricopa, AZ. The properties were each built in 2025 and are all currently in lease up. Honeycutt Run was delivering its final certificates of occupancy at the time of the refinance. All three properties feature a resort-style pool, clubhouse, fitness center and attached one- and two-car garages.
Bruce Francis, Doug Birrell, Bob Ybarra, Nick Santangelo and Shaun Moothart with CBRE Capital Markets’ Debt and Structured Finance secured an initial two-year, floating-rate term featuring full-term interest-only, with three extension options on behalf of the owner. The lender was MF1 Capital. The creative financing structure delivers a lower cost of capital during lease up and provides flexibility as the assets stabilize.
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