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| Elle Miraglia |
PHOENIX, AZ – JLL Capital Markets has arranged a $10.68 million loan for the refinance of The Valencia Apartments, a 127-unit, two-story, garden-style multi-housing community located in Phoenix, Arizona.
JLL
worked on behalf of the borrower, CALCAP Advisors, to secure the fixed-rate,
five-year Fannie Mae loan. The loan will be serviced by JLL Real Estate
Capital, LLC, a Fannie Mae DUS lender. 
Brad Miner
Originally
built in 1983, The Valencia Apartments recently underwent value-add
renovations, enhancing unit fixtures, hardware, exteriors and common areas.
Units feature breakfast bars, patios, full-size washer and dryer connections, walk-in closets and upgraded vinyl wood flooring, and community amenities include two pools, a sundeck and covered parking.
Situated
at 3450 West Missouri Ave., the property is located two miles West of
Interstate 17 and is within walking distance of Grand Canyon University (GCU).
Additionally, Bethany Square Shopping Center,
Bethany Towne Center and Palm Glen Shopping Center are all within a five-minute
drive.
Frank Choumas
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Brad Miner, Associate Elle Miraglia and Analyst Frank Choumas.
Agency/GSE
lending and loan servicing are performed by JLL Real Estate Capital, LLC, a
wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.
Contact:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
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