Stockdale Capital Refinances Recent Scottsdale, AZ Acquisition with $72.3 M Loan from Nuveen
The Californer/10337275

LOS ANGELES - Californer -- Stockdale Capital Partners has closed a $72.3 million permanent loan from Nuveen to finance its recent all-cash acquisition of Quincy at Kierland, a newly delivered 266-unit luxury midrise multifamily community in Scottsdale, AZ.

The five-year, floating rate loan was arranged by Cameron Chalfant, Jesse Zarouk, and Brian Eisendrath of IPA in the firm's Los Angeles office.

The ability to close quickly—and with absolute certainty of execution—has become essential for both buyers and sellers seeking a successful transaction in today's challenging real estate market, according to Stockdale Managing Director Samuel Palmer, who along with Managing Director Chase Jensen leads the company's multifamily platform.

"Our strong balance sheet enables us to move decisively, including the ability to present all cash offers that remove financing risk and streamline the closing process," said Palmer.  "From there, we rely on our trusted partners—like Brian's team at IPA—to structure the optimal financing for the asset. Nuveen was able to provide us attractive terms and moderate leverage, which further strengthens the long term profile of the investment."

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Quincy at Kierland is Stockdale's second all-cash acquisition in the past 60 days.  In October, the firm acquired Amelia at Farmer's Market, a 297-unit Class A multifamily community in Downtown Dallas, TX. In both transactions, Stockdale was able to close in less than 45 days all cash from the time it was awarded the project.

"The debt market for high-quality multifamily assets remains extremely competitive, and this execution was a great example of how broad lender interest can translate into superior outcomes for the borrower," said Cameron Chalfant of IPA. "By running a highly competitive process and moving decisively, we were able to leverage market depth to secure attractive terms while maintaining certainty of execution in a volatile environment."

About Stockdale Capital Partners
Stockdale Capital Partners is a vertically integrated real estate investment firm with a 30-year history of investing in commercial real estate across multiple asset classes throughout the U.S. The company is an owner-operator specializing in the redevelopment and repositioning of real estate assets with expertise in revitalizing urban properties of all types. The firm currently manages approximately $3.0 billion in gross AUM on behalf of several discretionary, comingled closed-end and open-ended funds. For more information, please visit our website at www.stockdalecapital.com.