Courtyard Apartments

Location: Casa Grande, AZ
Type: Multifamily
Price: $ 4,700,000

SMC has provided a $4,700,000 loan for the refinance of Courtyard Apartments. The loan is collateralized by a 244-unit multi-family property, with two floors in each of the 12 buildings. The property has been owned by the sponsor since 1991, and is currently 87% occupied. Local demand drivers, such as the property’s proximity to Casa Grande, which is the largest city in Pinal County, and Central Arizona College, have helped to strengthen and maintain occupancy at the subject.