StarPoint Properties secures $52m construction loan for multihousing development in Mesa, Arizona
StarPoint Properties announced that it has secured $52 million in construction financing for Dobson Station, a 245-unit multihousing development set to deliver in 2024 in Mesa, Ariz.
JLL worked on behalf of the borrower to secure the construction financing for the project through a debt fund.
Upon completion, Dobson Station will be a four-story, class A multi-housing asset comprised of studio, one- and two-bedroom units. Planned amenities include a fitness center, clubhouse, coworking facility and group kitchen. On-site parking will consist of a mix of tuck-under and grade-level parking.
Dobson Station is located at 139 North Dobson Road, directly adjacent to a Safeway grocery store and within immediate proximity to Tempe Marketplace. The transit-oriented property is walkable to the Metro Phoenix light rail stop with access