The Real Deal Miami

Housing Trust Group building first Arizona project

The Coconut Grove company got a $47.16 million construction loan from Walker & Dunlop
February 11, 2017 05:00PM

Rendering of Aviva apartment development in Mesa, Arizona

Coconut Grove-based Housing Trust started construction of its first residential development in Arizona after obtaining a $47.16 million construction loan.

Maryland-based Walker & Dunlop Inc. originated the loan to fund construction of a 324-unit apartment complex in Mesa, Arizona. Walker & Dunlop is a New York Stock Exchange-listed company, traded under ticker symbol WD.

Housing Trust Group lists 35 apartment properties on its website including three besides the Aviva property that are outside Florida: one in Canton Georgia, and two in Chattanooga, Tennessee.

Housing Trust Group’s multifamily housing development in Arizona, called Aviva, is located at Baseline Road and Loop 202 in Mesa. The total cost of the Aviva development is $63 million.

Biltform Architecture Group of Phoenix designed the apartment complex to certify its compliance with the National Green Building Standard. [Phoenix Business Journal] — Mike Seemuth