Phoenix sponsors bring this request for leased industrial, retail, and select office, and sometimes for apartments that will not be an agency loan. Capital Market Funds originates it from the Scottsdale office at 7373 E Doubletree Ranch Rd #255. The correspondent holds the paper. We do not.
The Phoenix tombstone is dual-tenant industrial, about 90,000 square feet, $5,000,000, life company, permanent cash-out, 2019, prior firm. Harvard Court, $1,350,000, is a Phoenix multifamily cash-out and the card does not say life company, so it is not proof on this page. Scottsdale Airpark is a different city. Tucson's $28,000,000 life-company loan is Pima County.
Investor-owned Phoenix property
The industrial cash-out was an investor refinance, not an owner-user story. A Phoenix sponsor who wants proceeds above the payoff, or a rate-and-term refinance of a leased building, can be life company when the rent roll is already in place. A purchase is the same source with a contract instead of a payoff. No Phoenix life-company acquisition is published.
Cash-out detail for both Phoenix cards, including Harvard Court, is Phoenix cash-out. This page is only the insurance-company source.
When Phoenix life company is the wrong call
A stabilized Phoenix apartment is often Fannie Mae, Freddie Mac, or HUD. We are not a DUS lender and not an Optigo Seller/Servicer. A value-add community is often bridge until a takeout exists. CMBS is the stretch when the life-company proceed will not reach the request. Office credit is selective. We will say if the box is closed.
Statewide context, including the Airpark and Tucson cards, is Arizona life company. Industrial as a property type is Phoenix industrial.
Life company against the sources it loses to
| Life company | The other box | |
|---|---|---|
| Apartments | When the sponsor wants an insurance-company hold | Fannie Mae, Freddie Mac, or HUD when that program is the cleaner fit. We are not a DUS lender. |
| Commercial | Core industrial, retail, medical, storage, and some office | A bank when the sponsor wants a relationship hold, or CMBS when proceeds will not reach |
| Who we are | The Scottsdale originator who places the loan with a correspondent | Not the life insurance company, and not a named carrier |
Phoenix sources next to life company
| Source | When it fits |
|---|---|
| Arizona life company | Tucson, Phoenix, and Scottsdale cards together. |
| Phoenix agency | Fannie Mae, Freddie Mac, and HUD for Phoenix apartments. Not this industrial loan. |
| Phoenix CMBS | When a life-company hold will not stretch on a Phoenix asset. |
| Phoenix industrial | The dual-tenant building this life-company card actually is. |