North River Partners and Crestline Investors provided a $45 million construction loan to develop Peoria Gateway, a 200-unit multifamily complex in Peoria, Arizona. Walker Dunlop’s Institutional Advisory Practice arranged the debt.
Overland Group is developing the project, its third multifamily development in the greater Phoenix market.
Located at 8455 Grand Avenue, Peoria, AZ, the Project is a 15-building, 200-unit residential development. Six of the 15 buildings will contain multifamily units, while the remaining nine buildings will be used for the townhome units (photo). Construction is underway with a completion date anticipated in 2027.
Peoria will be home to Amkor Technology’s $2.0 billion semiconductor facility that is expected to create 2,000 new jobs over the next decade. Peoria Gateway is also a ~30-minute drive from the new Taiwan Semiconductor plant.
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