$8,880,000 | Bascom Arizona Ventures, LLC


Property: Dolce Villagio Townhomes
Location: Tempe, AZ
Description: A 37-unit garden style multi-family community centrally located at 202 South Hardy Drive in downtown Tempe within walking distance to Arizona State University’s Main Campus, Phoenix Metro Light Rail, Tempe StreetCar, and Whole Foods. The residences, built in 2007, feature direct access two-car garages, and expansive two and three-bedroom floorplans averaging 1,423 SF.
Loan Type: Refinance Bridge Loan
Lender: Large National Bank

Client Benefits:

  • 65% LTV for a value-add acquisition
  • 4-year loan with full term IO payments
  • LIBOR + 100’s pricing
  • Future funding for capital improvements