Arixa Capital announced that it has closed a $74.8 million construction loan to finance the development of Pine Haven, an 83-unit townhome community in Flagstaff, Ariz. The project is sponsored by Red Oak Development Group.
Pine Haven is positioned to meet continued demand for high-quality housing in one of Arizona’s residential markets.
“Pine Haven is a thoughtfully designed community that will bring much-needed for-sale housing to the Flagstaff market,” said Carlie Yapp, senior vice president of strategic accounts at Arixa Capital. “We are pleased to partner with Red Oak Development Group and to provide a financing solution through our Pro Builder financing program.”
The project is led by Red Oak Development Group along with David Teo, and together the sponsors bring extensive experience across real estate development, investment management, community planning and capital markets.
“Our goal was to create a community that reflects the natural
