X
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

December 10, 2020

ACRES CAPITAL ORIGINATES $28M LOAN TO CONSTRUCT PHOENIX-AREA RENTAL COMMUNITY

MARICOPA, Ariz. – (December 8, 2020) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate…

READ MORE
December 09, 2020

ACRES FUNDS $28M LOAN FOR SINGLE FAMILY RENTAL DEVELOPMENT

New York-based ACRES Capital Corp. has originated an approximately $28 million loan to fund the construction and stabilization of Bungalows…

READ MORE
December 08, 2020

ACRES CAPITAL LENDS $28M IN CONSTRUCTION DEBT FOR PHOENIX-AREA ‘BUNGALOWS’

Scottsdale, Ariz.-based developer and investor Cavan Companies has nabbed $28 million in construction debt from ACRES Capital to fund its build-out of another one…

READ MORE

©2021 ACRES Capital, LLC. All Rights Reserved.

GLBA Privacy Notice | Privacy Policy | Registered SEC Investment Adviser

ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Westbury, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. ACRES may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. For information pertaining to the registration status of ACRES, please contact the SEC on their website at adviserinfo.sec.gov, or the state securities regulators for those states in which ACRES maintains a notice filing.

X