PCCP has extended a $51.8 million senior loan to refinance Everly at Morrison Ranch, a newly built multifamily community in Gilbert. The financing was provided to a joint venture between Phoenix Capital Management and P.B. Bell and is secured by the 236-unit property at 4353 E. Elliot Road. Everly at Morrison Ranch is situated within Morrison Ranch, a master-planned neighborhood in Gilbert, and reflects a Class A, garden-style design delivered in 2025.
The community is reported to be 97% leased, underscoring strong resident demand at the asset. The project is composed of 36 two-story residential buildings, with an average unit size of 986 square feet. The unit mix is diversified across one-, two-, and three-bedroom layouts, with one-bedroom homes accounting for 31% of the inventory, two-bedroom homes representing 57%, and three-bedroom homes making up the remaining 12%. This blend of floor plans is structured to appeal to a range of household sizes within the surrounding neighborhood.
Outdoor amenities at Everly at Morrison Ranch are designed to support an active and social lifestyle. Residents have access to a pool and spa enhanced by poolside cabanas, along with a ramada and barbecue grills for outdoor gatherings. The property also incorporates swinging sofa beds and a dog park, reflecting demand for pet-friendly features. Recreational gaming options include cornhole, horseshoe, and a giant chess setup. For families, the community provides a neighborhood-themed tot lot intended to offer dedicated space for younger residents.
Everly at Morrison Ranch also includes a comprehensive indoor amenity package. Fitness needs are served by the 24-hour Bulk Up Barn fitness center, allowing residents to exercise on a flexible schedule. Pet-focused services extend indoors with a dog spa. A central clubhouse provides private work and conference spaces, supporting remote work and small meetings, while also offering gaming and entertainment options. Features in the clubhouse include a Golden Tee golf simulator and a Buck Hunter gaming system, along with foosball and shuffleboard, offering multiple avenues for leisure and social interaction.
The refinancing from PCCP provides capital against a recently delivered, nearly fully leased asset within a planned residential community. With its combination of Class A finishes, a varied unit mix, and a broad amenity set covering outdoor recreation, fitness, workspaces, and entertainment, Everly at Morrison Ranch stands as an example of contemporary garden-style multifamily design in Gilbert. The loan aligns with the property’s stabilized occupancy and amenity-rich profile within the Morrison Ranch neighborhood.
