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PHOENIX — George Smith Partners has secured $67.2 million in senior construction financing for the ground-up development of a multifamily property in Phoenix.
Located immediately north of Phoenix’s central business district, the 17-story high-rise will feature 254 apartments. The non-recourse loan represents 80 percent of the total project cost.
Scott Meredith and John Thrall of George Smith Partners advised the undisclosed borrower in the financing.