Phoenix, Ariz. – CBRE has arranged a $25.5 million loan for the acquisition of The Premiere at Dana Park, a 198-unit apartment community in Mesa, Ariz.
San Diego-based Scott Peterson, Morgon Fraser, Bill Chiles and Brian Cruz of CBRE Capital Markets Debt & Structured Finance arranged the ten-year fixed rate loan through Fannie Mae on behalf of the borrower, Signature Properties.
Located at 1439 S. Val Vista Drive, the contemporary complex features nine-foot ceilings, gourmet kitchens, granite countertops, full-size washer and dryers and wood-style plank flooring. The property was built in 2018 and includes numerous modern amenities, such as a resort-style pool and spa, outdoor social space with fireplace and gas grill, a 24-hour indoor/outdoor fitness center and tenant clubhouse with a demonstration kitchen, coffee bar and resident lounge.
The community also provides bike storage, a playground, putting green and electric vehicle charging stations. Located adjacent to the Village Square at Dana Park, residents have access to an urban lifestyle center, offering upscale retailers, gourmet dining and everyday services.
The Premiere at Dana Park is in proximity to downtown Gilbert, a growing entertainment district with numerous dining and nightlife options. Mesa’s diverse economy offers resident opportunities in numerous industries including healthcare, education, aerospace, tourism and technology.
“This property sits in an ideal location due to its connectivity to quality jobs and entertainment, as well as its nearby retail amenities,” said Peterson. “Modern, walkable properties continue to draw significant interest from lenders, and that was the case with The Premiere at Dana Park. Ultimately, Fannie Mae won the business with the most competitive terms.”
CBRE’s Dixie Hall represented the buyer.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.