Northmarq’s Phoenix office closes $30M sale and financing for build-to-rent community in Casa Grande, AZ

CASA GRANDE, Ariz. —  Northmarq’s Phoenix Multifamily Investment Sales team has arranged the $30 million sale of Solana Place at Carlton Commons, a newly built 113-unit build-to-rent community in Casa Grande, Arizona. The team — Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca — represented the seller, D.R. Horton, America’s largest homebuilder.

CALCAP Advisors acquired the property with $21.75 million in acquisition financing secured by Griffin Martin of Northmarq’s Debt + Equity team through the firm’s in-house Fannie Mae DUS platform.

"The buyer was selected for their certainty of execution and proven ability to meet the seller’s timeline, closing before month-end,” said Koskovich. “Northmarq’s Debt + Equity team acted quickly to secure a rate lock and ensure timely funding, working diligently throughout the tight escrow period.”

“This transaction involved numerous moving parts, including a construction post-close and hard closing deadline,” Martin said. “Collaborating as one team, Northmarq’s highly experienced investment sales professionals and debt and equity experts ensured a smooth and timely close, meeting and exceeding both buyer and seller’s expectations.”

Completed in 2023, Solana Place features spacious three- and four-bedroom homes averaging 1,381 square feet. Each residence includes stainless steel appliances, vinyl plank flooring, full-size washers and dryers, private backyards, driveways and direct-access garages.

Located at 18 S. Boniface Lane, the community sits at the crossroads of Interstate 10 and Interstate 8, providing residents with easy access to Phoenix, Tucson and Southern California.