PHOENIX — JLL Capital Markets has arranged two refinancing loans totaling approximately $64.3 million on behalf of Chicago-based Blue Vista Capital Management and Palm Desert, California-based Family Development. The partners own Villas Litchfield (153 units) and Villas Goodyear (151 units), two newly constructed build-to-rent communities in Phoenix’s West Valley. ORIX Corp. was the lender. The loans — $33.1 million for the Litchfield property and $31.3 million for the Goodyear community — will serve as construction takeout financing for the two assets, which both opened in 2025. Greystar is the property manager at both properties, which each have private enclosed backyards with green turf lawns, resort-style pools, 24-hour fitness centers, dog parks, community gardens, grills and electric vehicle charging stations.
Villas Litchfield Park, pictured, is one of two Phoenix build-to-rent communities that Blue Vista Capital Management and Family Development have refinanced. The loans serve as construction takeout financing. Litchfield Park, along with Villas Goodyear, both opened in 2025.
JLL Arranges $64.3M Refinancing for JV Owners of Two Phoenix BTR Projects
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