Investment Summary

AVILLA DEER VALLEY

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Property Type         Multi-Family

Location                  Phoenix, AZ

Loan Type               Mezzanine Loan

Loan Purpose         Refinancing

Closing Date           February 2019

Avilla Deer Valley is a newly constructed 125-unit multifamily property of single story attached and detached units located in the Deer Valley submarket of Phoenix, adjacent to major area freeways and employers. The Deer Valley submarket has exhibited population growth and positive multifamily absorption trends. Hillcrest’s mezzanine loan served to refinance the existing construction loan. The property includes a resort style pool, private unit entrances and backyards, a dog park and an electrical vehicle charging station.