May 6, 2019
PCCP, LLC provided two senior loans totaling $54.2 million to IDM Companies for the ground-up development of two multifamily complexes in the Phoenix market. The properties will total 534 units, and include IDM Estrella Parkway, a 352-unit project in Goodyear, and IDM Cooley Station, a 182-unit project in Gilbert (pictured).
The financing was arranged by Dave Kidder, Adam Deermount, Steve Sims, and John Meek at Landmark Capital Advisors.
“PCCP sees this as a compelling opportunity to work with IDM Companies, a firm with a 25-year track record of multifamily development,” said PCCP’s Erik Flynn. “We feel that the projects’ strategic locations near job centers, quality construction and management, and on-site amenities will attract area renters in one of the country’s top markets for jobs and population growth.”
For comments, questions or concerns, please contact Dennis Kaiser