Affinius Capital LLC alongside Simmons Bank announced today they have originated an $85.1 million loan to finance the ground-up development of Atlas Mesa, a 394-unit apartment community in Mesa, Arizona. The loan was made to a joint venture between The Dinerstein Companies and PCCP, LLC.
Upon completion, the four-story, four-building complex with elevator service will boast 17 studios, 152 one-bedrooms, 183 two-bedrooms, and 42 three-bedrooms. Along with a separate amenity facility featuring a fitness center, pet spa, bike room, and clubroom, the residential buildings surround the property’s pool with cabanas and an outdoor kitchen.
“We believe Atlas Mesa is well located in Mesa near Banner Medical Center and across the street from A.T. Still University,” said Tom Burns, Managing Director at Affinius Capital. “The property will be rich with amenities and differentiated by four-story elevator service buildings, tuck under garages, and a dedicated amenity facility. Affinius Capital is excited to do our first deal with The Dinerstein Companies and PCCP and looks forward to doing more business with them in the future.”
About Affinius Capital LLC
Affinius Capital® (previously known as USAA Real Estate and Square Mile Capital Management) is an integrated institutional real estate investment firm focused on value-creation and income generation. With a 40-year track record and $32 billion in net assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
About PCCP, LLC
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $23.1 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 25-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $39.0 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking
