CrossHarbor Capital Partners has obtained $78.5 million in construction take-out financing for The Alyssa, a recently delivered Class A multifamily community in Tempe, Arizona. The financing recapitalizes the 335-unit property following its completion and lease-up, providing permanent debt for the asset.
The Alyssa was delivered in 2024 as a four-story rental community designed to offer a range of apartment layouts. The property includes studio, one-bedroom, two-bedroom, and three-bedroom floor plans, with residences ranging from 504 square feet to 1,658 square feet. The average unit size across the community is 881 square feet, illustrating a mix that spans smaller formats through larger, more traditional apartment homes.
The property is positioned as a Class A offering, supported by an amenity package geared toward modern renter preferences. Residents have access to a swimming pool featuring fountain elements and a sundeck, along with an outdoor lounge area that incorporates a fireplace and dedicated private dining spaces. The Alyssa also includes a fitness component anchored by a Peloton-equipped fitness center with both cardio machines and strength-training equipment.
In addition to lifestyle amenities, the community integrates spaces and services for residents who work from home or seek flexible work environments. A co-working lounge with a coffee bar provides areas for remote work, informal meetings, or study. The property also features a 605-space controlled-access parking garage, which includes electric vehicle charging stations to accommodate EV drivers. A community pet wash station adds a further service-oriented amenity for residents with animals.
The Alyssa reached stabilization 18 months after its 2024 delivery, indicating that the community was able to lease up and achieve a steady occupancy level within a relatively defined post-completion period. The construction take-out financing follows this stabilization milestone and secures long-term debt on the asset for CrossHarbor Capital Partners.
JLL’s Capital Markets Debt Advisory team arranged the financing on behalf of the borrower. The advisory team was led by Brad Miner, Drew Lydon, Jack Kurschat, and Henry Smith-Hastie, who coordinated the debt placement for the Tempe multifamily community.
