Deal: Summerhill Place

Location: Glendale, AZ

Collateral: A 232-unit, garden-style apartment complex in Glendale, AZ.

Amount: $10,912,000

Type: Perm-Fixed, Acquisition

Purpose: The borrower wanted maximum leverage to acquire this apartment complex in the Phoenix metro area.  The sale marked their first foray into this market.  We provided the borrower with long term, fixed rate agency financing.