Tower Capital Arranges $56M in Construction Financing for Village at Pioneer Apartments in Peoria, Arizona
PEORIA, ARIZ. — Tower Capital has secured $56 million in construction financing for Village at Pioneer, a multifamily development in Peoria.
Located at the southwest corner of 83rd and Olive avenues, the property will feature 332 for-rent residences averaging 950 square feet. Units will offer premium countertops, stainless steel appliances, 10-foot ceilings, walk-in closets, smart-home technologies and private yards. Community amenities will include detached garages with storage units, a workout facility, resort-style pool and spa, dog park and gated entrance.
Completion is slated for 2022. Village at Pioneer Park is a single-family, build-to-rent asset, which is positioned between multifamily and single-family asset classes to provide multifamily amenities with a single-family-style home.