A joint venture between Canyon Partners Real Estate LLC, Ascendant Capital Partners, and Bond Companies has been formed to support the development of Inspire Sonoran Desert. This Class A multifamily community will consist of 560 units and will be located in the North Valley submarket of Phoenix. Kennedy Wilson has provided an undisclosed amount as a senior construction loan for this project.
The North Valley submarket in Phoenix has seen significant growth in recent years due to TSMC’s announcement to build a multi-phase semiconductor plant there. As one of the closest communities to this future plant, Inspire Sonoran Desert is expected to benefit from its proximity.
This project marks Canyon’s ninth investment in the Phoenix area within the past five years. The company has been actively involved in providing debt and equity for real estate projects not only in Arizona but also across primary and secondary markets throughout the U.S. For Kennedy Wilson, this construction loan is just one example of their active year on their debt investment platform.
In summary:
Canyon Partners Real Estate LLC, Ascendant Capital Partners, and Bond Companies have teamed up with Kennedy Wilson to develop Inspire Sonoran Desert – a 560-unit Class A multifamily community near TSMC’s upcoming semiconductor plant location in North Valley submarket of Phoenix. This marks Canyon’s ninth investment project within five years while they continue investing across primary & secondary US markets along with being an active provider for both debt & equity investments specifically focused on Arizona region; meanwhile it adds another successful deal under Kennedy Wilson’s belt who have had quite an eventful year so far through their various ventures including lending opportunities like these.
