$33.8 million construction loan secured for build-to-rent community in Phoenix’s West Valley

JLL Capital Markets led the financing efforts for the 151-unit Villas Goodyear in Goodyear, Arizona

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Villas Goodyear
JLL arranged a $33.8 million construction loan for Villas Goodyear, a 151-unit, build-to-rent community located in Goodyear, Arizona

JLL Capital Markets announced that it has arranged a $33.8 million construction loan for Villas Goodyear, a 151-unit, build-to-rent community located in Goodyear, Arizona within Phoenix’s West Valley.

JLL worked on behalf of the borrower, a joint venture between Blue Vista Capital Management and Family Development, to secure the three-year, fixed-rate loan through a regional bank.

Upon completion, Villas Goodyear will feature one- and two-bedroom, free-standing, single-story units that offer the privacy of a single-family home with the luxurious community amenities of an apartment complex. Units will include spacious floorplans, simulated wood flooring, quartz countertops, stainless steel appliances and private backyards. Amenities will include a resort-style pool, fitness center, open turf spaces, outdoor lounge area and grill area.

Situated at 816 S. Sarival Ave., Villas Goodyear will be set in a prime infill location within Phoenix’s West Valley. The project will be within walking distance to a high concentration of dining, entertainment and service amenities, as well as numerous recreational sites. Additionally, the location offers rapid access to downtown Phoenix via I-10 and Loop 303.

JLL’s Capital Markets team representing the borrower was led by Senior Director Brian Walsh, Senior Managing Director Brad Miner and Analyst Dave Hunter.

JLL’s Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.