$52 million construction loan arranged by JLL Capital Markets for multi-housing development in Mesa, AZ

 

Elle Miraglia

LOS ANGELES, CA –  JLL Capital Markets has arranged $52 million in construction financing for Dobson Station, a 245-unit multi-housing development set to deliver in 2024 in Mesa, Arizona.

 

Jeff Sause

JLL worked on behalf of the borrower, StarPoint Properties, to secure the construction financing for the project through a debt fund.

Upon completion, Dobson Station will be a four-story, Class A multi-housing asset comprised of studio, one- and two-bedroom units.

Dobson Station is located at 139 North Dobson Rd., directly adjacent to a Safeway grocery store and within immediate proximity to Tempe Marketplace.

Wyatt Strahan

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jeff Sause, Director Wyatt Strahan and Associate Elle Miraglia.

“StarPoint is pleased to commence construction on this transformative, transit-oriented project. 

"The City of Mesa has been great to work with and supports an ideal mix of new jobs and housing.

 

Sandy Schmid

"We are further blessed to have the support of our lender, and a strong JLL team who helped drive this home,” said Sandy Schmid, Director of Acquisitions and Development at StarPoint Properties.

CONTACT:

Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@jll.com