BWE has arranged a $28.8 million refinancing for Cabana Bridges, a recently built garden-style apartment community in Tucson, Arizona. The loan recapitalizes the 288-unit multifamily property, which delivered in 2023, and was secured on behalf of sponsors Greenlight Communities and Holualoa Companies.
The financing was structured as a seven-year Freddie Mac loan, with terms designed to align with Greenlight Communities’ business objectives for the asset. According to BWE, the execution includes a flexible prepayment option and an interest rate characterized as favorable relative to the borrower’s requirements, signaling a tailored agency solution rather than a one-size-fits-all structure.
BWE professionals Matt Terpstra and Charlie Williams, both based in the firm’s Phoenix office, originated the loan. Acting in an advisory and arranging capacity, they coordinated the Freddie Mac financing for the ownership group, delivering long-term, fixed-rate capital at a time when refinancing decisions remain central to multifamily portfolio strategy.
Cabana Bridges is located at 1102 E. 36th Street in Tucson, just off Interstate 10 and less than five miles from Downtown Tucson. The setting provides access to the regional freeway network and proximity to the city’s core employment and amenity base. The community is gated and designed in a garden-style format, with multiple residential buildings organized around shared outdoor and indoor spaces.
The property offers a mix of studio, one-bedroom, and two-bedroom apartment homes. Residents have access to a range of stated community amenities, including spacious outdoor courtyards featuring citrus trees, barbecue and seating areas intended for gatherings and informal use, and a swimming pool with lounge seating for on-site recreation. These outdoor elements are complemented by covered parking options within the community.
Indoor common areas at Cabana Bridges include a two-story clubhouse designed as a social and work hub, with a coworking lounge and a coffee bar to support remote work and resident interaction. The community also features a 24/7 fitness center, allowing residents to access wellness facilities on their own schedules. Collectively, the amenity package reflects a focus on functionality and daily-use convenience for renters.
The refinancing underscores ongoing engagement by agency lenders in newer-vintage, garden-style multifamily assets in the Tucson market. With BWE arranging the Freddie Mac execution for Greenlight Communities and Holualoa Companies, Cabana Bridges now benefits from a new capital structure built around a medium-term, seven-year loan and borrower-friendly prepayment flexibility.
