CASA GRANDE, Arizona – HSL Desert Sands Properties has received $21.5 million in financing for a 323-unit apartment complex in Casa Grande. The community is located at 720 West O’Neil Drive.
The property was built in 2008. Casa Grande is about 45 miles south of the Phoenix central business district and 70 miles northwest of Tucson. The funds will be used to refinance the property.
The 10-year Fannie Mae loan features a 30-year amortization schedule. HSL Desert Sands Properties is an entity affiliated with HSL Properties and Humberto S Lopez of Tucson, who owns multifamily and other commercial real estate throughout the Southwest. The loan was provided by Hunt Mortgage Group.