{"id":472048,"date":"2021-04-06T13:33:28","date_gmt":"2021-04-06T17:33:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472048"},"modified":"2021-04-06T13:33:28","modified_gmt":"2021-04-06T17:33:28","slug":"cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\/","title":{"rendered":"Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona"},"content":{"rendered":"

<\/p>\n

Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona<\/b><\/p>\n

GLENDALE, Ariz.–(BUSINESS WIRE<\/a>)–
\nCushman & 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 (\u201cCavan\u201d), the developer, and was originated by ACRES Capital.\n<\/p>\n

\nJeremy Korer and Kristian Brown with Cushman & Wakefield\u2019s Equity, Debt & Structured Finance Group in Phoenix represented the developer in the transaction.\n<\/p>\n

\n\u201cBungalows on Cotton Lane will provide a wonderful Class A horizontal rental opportunity for residents of Glendale and Phoenix Metro market seeking a modern stand-alone home with all the amenity perks found in a more luxury multifamily environment, along with maintenance-free living,\u201d said Korer, Senior Director. \u201cThe community is a unique and flexible housing product that meets the demand of new rental market trends \u2014 boasting higher rent and higher retention.\u201d\n<\/p>\n

\nKorer, who has already closed nine finance transactions in the built-to-rent space in the Phoenix market, added, \u201cThe built-to-rent trend is a fairly new product type but that has exploded the past few years. We are seeing increasing demand from renters as well as investors, developers and lenders wanting to get into this space in Phoenix as well as other parts of the country. One of the draws has been they provide residents with the feel of a single-family home.\u201d\n<\/p>\n

\nBungalows on Cotton Lane will feature 336 single-story units comprising one-, two- and three-bedroom units along with a gated entry and more than 850 parking spaces.\n<\/p>\n

\nThe site is located in a newly emerging area dominated by the construction of several major industrial and distribution parks and offers excellent access and exposure from the 303 loop, a key route providing access to Interstates 10 and 17. The location is also near major employment, retail and entertainment centers.\n<\/p>\n

About Cushman & Wakefield<\/b><\/p>\n

\nCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210406005943\/en\/<\/a><\/span><\/p>\n

Joshua Deale
\n<\/b>
Cushman & Wakefield
\n<\/span>
Communications Manager, West Region
\n
Mobile: +1 415 677 0423
\n
joshua.deale@cushwake.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Illinois Arizona<\/p>\n

INDUSTRY KEYWORDS:<\/b> Residential Building & Real Estate Construction & Property Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona GLENDALE, Ariz.–(BUSINESS WIRE)– 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 (\u201cCavan\u201d), the developer, and was originated by ACRES Capital. Jeremy Korer and Kristian Brown with Cushman & Wakefield\u2019s Equity, Debt & Structured Finance Group in Phoenix represented the developer in the transaction. \u201cBungalows on Cotton Lane will provide a wonderful Class A horizontal rental opportunity for residents of Glendale and Phoenix Metro market seeking a modern stand-alone home with all the amenity perks … <\/p>\n

Continue reading “Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472048","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona GLENDALE, Ariz.–(BUSINESS WIRE)– 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 (\u201cCavan\u201d), the developer, and was originated by ACRES Capital. Jeremy Korer and Kristian Brown with Cushman & Wakefield\u2019s Equity, Debt & Structured Finance Group in Phoenix represented the developer in the transaction. \u201cBungalows on Cotton Lane will provide a wonderful Class A horizontal rental opportunity for residents of Glendale and Phoenix Metro market seeking a modern stand-alone home with all the amenity perks … Continue reading "Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T17:33:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210406005943r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona\",\"datePublished\":\"2021-04-06T17:33:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/\"},\"wordCount\":457,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210406005943r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-secures-62m-construction-loan-for-new-336-unit-multifamily-community-in-arizona\\\/\",\"name\":\"Cushman & Wakefield Secures $62M Construction Loan for New 336-unit Multifamily Community in Arizona - 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