CBRE Secures $116 Million in Refinancing for 3-Property Multifamily Portfolio in Phoenix Metro

CBRE has secured $116 million in pre-stabilized bridge financing for a three-property multifamily portfolio located in the greater Phoenix metro.

Bruce Francis, Doug Birrell, Bob Ybarra, Nick Santangelo and Shaun Moothart with CBRE Capital Markets’ Debt and Structured Finance secured an initial two-year, floating-rate term featuring full-term interest-only, with three extension options on behalf of the owner. The lender was MF1 Capital.

"Our team is proud to source the $116 million in bridge financing for a repeat client,” said CBRE’s Francis. “This transaction enabled the refinancing of construction debt across a three-property, build-to-rent portfolio, with each asset at varying stages of lease-up. The creative financing structure delivers a lower cost of capital during lease up and provides flexibility as the assets stabilize. Congratulations to our client and lending partner; We’re excited to see the project’s continued success."

The portfolio includes Bella Olivia, 112 units located in Peoria, AZ; Woodcrest at Power Ranch, 120 units located in Gilbert, AZ; and Honeycutt Run, 209 units located in Maricopa, AZ. The properties were each built in 2025 and are all currently in lease up. Honeycutt Run was delivering its final certificates of occupancy at the time of the refinance. All three properties feature a resort-style pool, clubhouse, fitness center and attached one- and two-car garages.

“It was a pleasure collaborating with CBRE to structure a financing solution for repeat borrower Bela Flor Communities,” said MF1’s Michael Squires. “The sponsor has consistently delivered high-quality build-to-rent communities throughout the Phoenix market, and we’re excited to support the continued growth of these exceptional assets,”