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Bank of America Merrill Lynch Provides $97M Credit Facility to Refinance Multifamily Portfolio in Arizona

The Monarch apartments is located at 77 W. Coolidge Street inPhoenix. It is one of the 12 multifamily assets included in this refinancing.

The Monarch apartments is located at 77 W. Coolidge Street inPhoenix. It is one of the 12 multifamily assets included in this refinancing.

PHOENIX — BH Properties has received a $97 million credit facility to refinance a multifamily portfolio in the Phoenix area. The portfolio contains 12 properties and about 3,000 apartment units. The Bank of America Merrill Lynch credit facility replaces multiple existing loans with various lenders. The properties average a 93 percent occupancy rate.

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