Residential

TriGate Capital Provides Mezzanine Loan for Phoenix Multifamily Refinance

DALLAS, TEXAS – October 24, 2024 – TriGate Capital, a real estate investment manager focused on value-driven opportunities, has completed mezzanine loan to refinance Citi on Camelback, a 360-unit apartment community located on Camelback Road in central Phoenix, Arizona. The loan was provided by Trigate Income Partners.

Originally built in 2002 and extensively renovated in 2022, Citi on Camelback offers a blend of modern interiors and community amenities in a high-demand urban location. The loan was made to Rockwell Property Company to refinance a maturing loan, and was structured to provide the borrower with a flexible, accretive capital solution.

TriGate pursued the investment based on the attractive cost basis and strong in-place cash flow, both of which align with the firm’s strategy of targeting well-located, income-producing assets. The investment further expands TriGate’s footprint in the Phoenix multifamily market, a region supported by continued population and employment growth.

“We are pleased to support Rockwell Property Company on this refinance and to add Citi on Camelback to our investment portfolio,” said Chad Redding, Senior Vice President at TriGate Capital. “This transaction demonstrates TriGate’s ability to provide creative capital solutions and close quickly when certainty of execution matters.”

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