PCCP Provides $58M Construction Loan for Phoenix-Area Multifamily Property

Arton Holdings has secured $58 million in construction financing for The Parker on Higley, a 261-unit multifamily development in Gilbert, Ariz., a suburb of Phoenix.

PCCP provided the financing, while a JLL Capital Markets team of Brad Miner and Drew Lydon arranged the financing, according to JLL.  

In a statement, Miner spoke to the strength of the Phoenix metropolitan market to attract high-quality tenants, as evidenced by the city’s population of 5.4 million, as well as the asset’s many amenities, which include a resort-style pool, a fitness center, and nearly 500 on-site parking spaces.  

“The strong fundamentals of the Phoenix region, including robust population growth and a thriving job market, continue to drive demand for quality multifamily housing,” he said. 

Located at the northeast corner of Baseline Road and Higley Road — about 30 minutes east of Downtown Phoenix — The Parker on Higley sits near U.S. Route 60, and the Loop 202 and Loop 101 freeways. Moreover, the asset is a 15-minute drive from Phoenix’s Mesa Gateway Airport. The Phoenix Sky Harbor International Airport is only a 20-minute drive west. 

The Parker on Higley is a four-story property that will span 220,570 square feet across 8 acres. The building will feature one- to three-bedroom units and include 400 covered outdoor parking spaces and 68 private parking garages. 

The building is expected to be completed in the fourth quarter of 2026. 

Arton Holdings did not respond to a request for comment. 

Brian Pascus can be reached at bpascus@commercialobserver.com