REBusinessOnline

Avison Young Arranges $27.7M Construction Loan for Summertown Apartments Near Boise

Summertown-Apts-Meridian-ID

Located in Meridian, Idaho, Summertown Apartments will feature 190 units and resort-style amenities.

MERIDIAN, IDAHO — Avison Young has secured a $27.7 million loan to finance the construction of Summertown Apartments in Meridian, a suburb 12 miles west of Boise. The borrower is a joint venture between Phoenix Commercial Construction and 111 Capital.

Jay Maddox and Peter Sherman of Avison Young Capital Markets Group arranged the loan, which a Los Angeles-based private lender provided.

Located adjacent to the 58-acre Settler’s Park, Summertown will offer 190 units in a mix of two-story rowhouses and three-story garden-style apartments with gated front garden areas and enclosed garages. Situated on 5.8 acres, the property will feature resort-like amenities.

Construction is slated to begin first-quarter 2020, with the first units delivered during summer 2020.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Watch On Demand:

Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties