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| Capital Place Apartments, Downtown Phoenix, AZ |
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| Elliott Throne |
PHOENIX, AZ –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $36.3 million in financing
for Capital Place, a 292-unit, Class
A multi-housing community in downtown Phoenix, Arizona.
HFF worked exclusively on
behalf of the borrower, Epoch Residential, to place the three-year,
floating-rate loan with a life company lender.
Capital Place is located
on the eastern edge of downtown Phoenix near attractions such as the Phoenix
Convention Center, Chase Field, Talking Stick Resort Arena, Phoenix Biomedical
Campus and Arizona State University’s downtown campus.
The transit-oriented,
mid-rise community is also adjacent to the Phoenix Valley Metro light rail,
which connects downtown Phoenix to Tempe, Mesa and the Phoenix Sky Harbor
International Airport.
Completed in 2016, Capital Place has 292 units
averaging 827 square feet with high-end amenities, including stainless steel
appliances, custom kitchen cabinets, granite countertops, faux wood flooring
and covered balconies.
The community also features a resort-style pool with spa, barbecue grills and private cabanas; state-of-the-art fitness center; clubhouse; business center; game and media room; controlled access and garages.
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| Brad Miner |
“Downtown Phoenix
continues to attract capital from developers and lenders alike,” Miner said.
“The property’s location on the light rail along with positive leasing
momentum, institutional quality of the asset and strong sponsorship resulted in
significant interest from various debt providers.”
For more information on this news release, please
contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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