PCCP announced it has provided a $66 million senior loan to Sunroad Enterprises for the acquisition and lease-up of Element 12 at Cadence. Located in Henderson, Nev., the 265-unit, four-story apartment community is within the Cadence master-planned community (MPC). The class A property was recently completed in September 2023. The financing was arranged by JLL Capital Markets.
Element 12 at Cadence is a garden-style, elevator-served, six-building apartment community with an average floorplan size of 875 square feet. The property includes 145 one-bedroom units, 100 two-bedroom units and 20 three-bedroom units. The high-end apartments feature granite countertops, 9-foot to 10-foot ceilings, premium stainless steel appliances, smart thermostats and oversized closets. Community amenities include a pickleball court, a heated pool and spa, bike storage and pet spas in each building, co-working spaces, a game room, a fitness center with a separate yoga studio and ample parking. Addi
