Scottsdale-based developer restructures $144M in financing across 3 Valley developments
The Empire Group positions for long-term growth
Scottsdale-based developer The Empire Group has restructured the financing for three of its single-family build-to-rent communities in the Phoenix metro area.
Photo courtesy of The Empire Group
Scottsdale-based real estate developer The Empire Group has recapitalized three of its single-family build-to-rent communities across the Phoenix metropolitan area.
The company secured over $144 million in bridge loans from Arbor Realty Trust, Inc., retiring construction debt and $21 million in outstanding preferred equity.
Recapitalization refers to the restructuring a project’s financing, often replacing construction loans or equity with long-term debt to reduce costs, increase liquidity and prepare for future growth.
You must be a member to read this story.
Join our family of readers starting at $5 for your first month and support local, unbiased journalism.
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
build-to-rent
Scottsdale-based developer restructures $144M in financing across 3 Valley developments
The Empire Group positions for long-term growth
Photo courtesy of The Empire Group
Scottsdale-based developer The Empire Group has restructured the financing for three of its single-family build-to-rent communities in the Phoenix metro area.
Posted
Scottsdale-based real estate developer The Empire Group has recapitalized three of its single-family build-to-rent communities across the Phoenix metropolitan area.
The company secured over $144 million in bridge loans from Arbor Realty Trust, Inc., retiring construction debt and $21 million in outstanding preferred equity.
Recapitalization refers to the restructuring a project’s financing, often replacing construction loans or equity with long-term debt to reduce costs, increase liquidity and prepare for future growth.
In a press release, Randy Grudzinski, partner at The Empire Group, said the recapitalizations highlight the strength of the build-to-rent market, support long-term community performance and provide rare liquidity to investors amid a sluggish multifamily sales environment.
The Empire Group recapitalization includes:
The Village at Camelback Park – $46.17M loan, closed May 27
The Village at Paseo de Luces – $61.89M loan, closed March 14
The Village at Schnepf Farms – $36.11M loan, closed April 24
The Village at Camelback Park, Phoenix, Ariz.
A 194-unit gated community at 112th Avenue and Camelback Road, offering one- to three-bedroom single-story homes (680–1,282 sq. ft.) with private backyards, smart-home tech and resort-style amenities including a pool, spa, fitness center, clubhouse, EV charging and garages.
The Village at Camelback Park is located near Loop 101 and the Camelback Ranch baseball complex.
The Village at Paseo de Luces, Tolleson, Ariz.
Located near 99th Avenue and Van Buren Street, this 272-unit community spans 22 acres and offers single-story one- to three-bedroom homes (680–1,282 sq. ft.).
With proximity to I-10 and Loops 101, 202, and 303, The Village at Paseo de Luces provides excellent commuter access across the West Valley.
The Village at Schnepf Farms, Queen Creek, Ariz.
A 144-unit gated community at Rittenhouse and Cloud Roads, offering one- to three-bedroom single-family homes on 13 acres. Adjacent to Schnepf Farms and near San Tan Valley, it blends rural charm with modern amenities.
The Empire Group remains a leading developer of build-to-rent communities in the Southwest, with an expanding portfolio across Arizona and beyond.
For more information about the Empire Group, visit builtbyempire.com.
Comments
No comments on this item Please log in to comment by clicking here