 |
| Zi Sen Chong |
DENVER, CO – EverWest Real
Estate Investors has closed on two mezzanine
construction loans totaling $24.3 million for NexMetro Communities, a leading
national developer of innovative for-rent communities that serve as a hybrid
between conventional garden-style apartments and amenitized single-family
homes.
The EverWest loans
will support NexMetro’s development of two highly differentiated Avilla Homes
rental communities in two high growth markets – Peoria, Arizona and Thornton,
Colorado.
“NexMetro has a
proven track record of delivering a niche, in-demand residential product that
bridges the gap between single-family residences and apartments,” said EverWest
Director for Structured Finance Zi Sen Chong.
“They are a
well-capitalized entity that has developed, sold or is currently developing
more than 5,800 units in high growth markets and is backed by an extremely
experienced ownership team. We are excited to support the development of their
newest communities.”
 |
| Tom McCahil |
Located in Peoria,
Arizona, within metro Phoenix’s West Valley submarket, Avilla Lago is a gated
community totaling 120 modern and stylish units. The project offers one-, two-
and three-bedroom single-family rental home plans ranging from 635 to 1,236
square feet.
Avilla Eastlake is located
in Thornton, Colorado. It totals 244 equally styled single-family rental units,
with one-, two- and three-bedroom home plans ranging from 638 to 1,289 square
feet.
All units are
detached or semi-detached and include a private entry, private fenced yard and
are fully pet friendly. Proven floorplans feature 10-foot ceilings, modern
top-of-the-line finishes, stainless steel appliances and full-size washer and
dryers.
Both properties
feature professional property management, open grassy areas, walking trails, an
on-site dog park and a resort-style pool with hot tub, lounge seating, dining
areas and built-in barbeques.
 |
| Joe Chickey |
 |
| NexMetro Peoria, AZ Development |
Avila Lago sits west
of the northwest corner of Lake Pleasant Parkway and Beardsley Road. It is
minutes from the Loop 101 freeway with quick access to downtown Phoenix, major
employment corridors and large-scale retail, sports, dining and entertainment.
Avilla Eastlake is
located at Washington Street and Washington Center Parkway. It is 13 miles
north of downtown Denver and sits on the east side of Interstate 25, close to
Denver International Airport, an RTD regional rail station, major employment
centers and local shopping, dining and entertainment destinations.
 |
| NexMetro Development, Thornton, CO |
NexMetro anticipates
delivery of Avilla Lago by October 2020 and Avilla Eastlake by December 2020.
EverWest launched
its structured finance platform in 2013 under the direction of industry
veterans Tom McCahill and Joe Chickey, with a focus on
originating and managing mezzanine debt, preferred equity financing and B-notes
for commercial properties and developments throughout the U.S. EverWest
continues to actively seek new investment opportunities in major U.S. markets.
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