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Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona
April 6, 2021 GMT
GLENDALE, Ariz. (BUSINESS WIRE) Apr 6, 2021
Cushman & Wakefield (NYSE: CWK) announced the firm has arranged the $62 million construction financing for Bungalows on Cotton Lane, a new 336-unit, single-story, built-to-rent community situated on 35 acres in Glendale, Arizona. The loan was provided to Cavan Companies (“Cavan”), the developer, and was originated by ACRES Capital.
Jeremy Korer and Kristian Brown with Cushman & Wakefield’s Equity, Debt & Structured Finance Group in Phoenix represented the developer in the transaction.