Find Communities

News

ACRES Capital Originates $28M Construction Loan for Apartment Community Near Phoenix

DECEMBER 11, 2020

MARICOPA, ARIZ. — ACRES Capital has originated a $28 million loan for the construction and stabilization of Bungalows on Bowlin, a single-story multifamily property located at Bowlin Road and John Wayne Parkway in Maricopa. Cavan Cos., a Scottsdale, Arizona-based real estate developer, is the borrower and has developed multiple Bungalow-branded projects across the Phoenix area.

Bungalows on Bowlin will feature 196 apartments, a resort-style swimming pool and spa, a farmhouse-style clubhouse and 426 on-site parking spaces. Once completed, the 16-acre property will be one of the only single-story rental communities in the Maricopa submarket.

Jeremy Korer of Cushman & Wakefield arranged the loan.

MORE PRESS RELEASES

March 30, 2021

ACRES FUNDS $13.3M LOAN FOR LOS ANGELES MULTIFAMILY DEVELOPMENT

LOS ANGELES – (March 30, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate…

READ MORE
March 26, 2021

ACRES CAPITAL ORIGINATES $24M LOAN TO CONSTRUCT SAVANNAH, GA MULTIFAMILY PROPERTY

SAVANNAH, Ga. – (March 26, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate…

READ MORE
March 08, 2021

ACRES ORIGINATES $62M LOAN TO CONSTRUCT PHOENIX-AREA RENTAL COMMUNITY

PHOENIX – (March 4, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated…

READ MORE