Phoenix, Ariz. – Churchill Commercial Capital, Inc. arranged a $25.5 million permanent loan for Skysong Office 4, LLC and the master developer, the Plaza Companies, on the fourth office building within the Skysong development. The ASU Skysong Innovation Center is a 42-acre mixed use development and one of the leading office hubs bringing innovation, technology, imagination and entrepreneurship to the Valley. It will include more than approximately 1.2 million square feet upon completion. SkySong 4 was recently completed and just reached stabilized occupancy,
This unique transaction was placed with one of our many correspondent Life Companies, who previously financed the sister SkySong 3 building. The long-term, fixed rate, non-recourse loan was structured to meet our client’s long-term financing objectives. Tom Ryan represented the borrower in securing maximum loan proceeds, structure and attractive terms with a competitive interest rate.
Churchill Commercial Capital is an Arizona based commercial mortgage banker actively arranging permanent & bridge loans and joint venture equity for commercial and multifamily properties. Established in 1994, Churchill’s lending relationships include major life insurance companies, multifamily agency lenders, specialty finance companies who make bridge loans, investment banks originating loans destined for securitization, and select banks making portfolio loans. Churchill services loans locally on behalf of its correspondent lenders.