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$2,100,000 Co-GP Raise for a 250-unit Multifamily Development; Phoenix, AZ

All Terms Confidential

Transaction Description:

George Smith Partners placed a $2,100,000 Co-GP investment on a proposed 250-unit multifamily development site in Phoenix, AZ. The land is under contract with entitlements completed and development approvals underway. The Project will be a resort-style community comprised of studio, 1, 2 and 3-bedroom units in a farm-style design offering a clubhouse amenity, fitness gym, outdoor recreational areas as well as attached and detached garages. The Project is located on a main intersection in one of Phoenix’s emerging suburban villages with 15-minute access to downtown via the recently opened Loop 202. This area is served by over 300,000 square FEET of national credit big box, grocery anchored and service retail. The Co-GP investment will allow the Sponsor to complete the predevelopment phase to shovel ready. It will also allow the Sponsor/Developer to collect 100% of its developer and construction management fees. The estimated project cost is $60,000,000. George Smith Partners has been exclusively engaged to arrange the entire capital stack for the next phase of the Project.


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