Berkadia successfully brokered and arranged financing for the $85.35 million sale of Springs at Cooley Station, a 276-unit apartment complex in Gilbert, Arizona. Utah-based Millburn and Company purchased the property for approximately $309,000 per unit. Michael Slovitt of Berkadia led financing efforts on behalf of the buyer with Fannie Mae providing full-term interest only permanent financing featuring a rate buydown to lock in an all-in fixed rate of 5.03 percent over 10 years. Dan Cheyne represented the seller during this transaction process.
Empire’s Arro in Downtown Phoenix to Become Arizona’s Tallest Mixed-Use Tower
Empire Group of Companies, working through its luxury urban infill division Aspirant Development, is moving forward with plans for a
Steve Griffin
April 23, 2026
