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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.
Posted on 8625
The joint partnership of NorthPoint Development, a Kansas City based developer, and The Romney Group have begun construction on what will be a brand new more than 19-million-square-foot (msf) state-of-the-art warehouse, manufacturing, office and commercial project in Grantsville, Utah. The partnership has selected Cushman & Wakefield (NYSE: CWK) to perform brokerage services.
Named the Lakeview Business Park, the new monumental Class A project is situated on more than 1,300 acres. The partnership will invest over $1 billion in developing the park. Construction commenced in November 2020 on the first speculative building totaling 506,930 square feet (sf) in size, and expandable to 1 msf. The remainder of the project is being developed in phases at future dates yet to be determined.