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MESA, ARIZ. — StarPoint Properties has received a $52 million loan for the construction of Lotus Point, a 245-unit apartment community in Mesa.
Jeff Sause, Wyatt Strahan and Elle Miraglia of JLL Capital Markets arranged the construction financing for the project through a debt fund.
Lotus Point will rise four stories and offer studio, one- and two-bedroom units. Amenities will include a fitness center, clubhouse, coworking facility and community kitchen. On-site parking will include a mix of tuck-under and grade-level parking.
Development is slated for completion by early 2025.