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AEW provides $68m construction mortgage to develop class A industrial park in Tempe, Ariz.
Transactions - JANUARY 30, 2025

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AEW provides $68m construction mortgage to develop class A industrial park in Tempe, Ariz.

by Released

AEW Capital Management has closed a $68 million construction mortgage to fund the development of NextWave Tempe, a 689,000-square-foot, three-building, class A industrial park in Tempe, Ariz. The project is expected to deliver in fourth quarter 2025.

“We are excited to play a part in this project and to lend to an established core fund sponsor and their partners, including a highly reputable developer who secured a strategic site and designed a state-of-the-art industrial park that we believe will be well-positioned within Phoenix’s dynamic industrial market,” said Kyle Seminara, AEW’s head of originations.  “AEW continues to find compelling opportunities in construction lending with high-quality sponsorship and core real estate.”

As an active lender on all types of commercial properties throughout North America and select international markets, AEW has originated more than $6.5 billion of loans since the AEW Debt Platform was established in 2011.

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