The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 13, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Bela Flor Communities Obtains Construction Loan of $35 Mil for AZ Res Development


Arizona-based Bela Flor Communities has secured a construction loan of $35.25 mil for Bella Olivia, a 112-unit build-to-rent (BTR) community in Peoria, AZ. The property is currently under construction and is expected to open to the public in the summer of 2024.

Located at 9625 West Olive Ave in southwest Peoria, Bella Olivia consists of one-, two- and three-bedroom units across 16 residential buildings. The community also boasts a resort-style pool and spa, designated walking trail, tot lot and dog park.

Bruce Francis, Doug Birrell, Bob Ybarra, Shaun Moothart, Nick Santangelo and Jim Korinek with CBRE Capital Markets' Debt and Structured Finance team arranged the 80% loan-to-cost, full-term interest-only non-recourse construction loan. It has an initial 30-month term.

Bela Flor Communities is a real estate development company focused on developing single-family and multifamily residential communities throughout metro Phoenix. Over the last five years, the company has built over 1,000 units in the Valley. Other communities include Bella Victoria, Bella Encanta, Bella Brisa, Bella Rosa and Bella Corona.

The BTR sector has boomed in recent years across the Valley. According to research analyzed by CBRE, since 2018, developers have delivered more than 10,000 build-to-rent units in Arizona.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media