Fifty Stones Capital Group Closes a Milestone $31 Million Construction Loan for High-Impact Multifamily Development

Phoenix, AZ – November, 2021 – In one of its most dynamic transactions to date, Fifty Stones Capital Group, the nationwide private lending powerhouse, is proud to announce the successful closing of a $31 million ground-up construction loan for a transformative Class A multifamily development in the heart of Phoenix, Arizona. The deal, secured and closed in under 60 days, marks a major milestone for both Fifty Stones and the developer behind the project, a seasoned sponsor with deep roots in the Southwest and a strong pipeline of urban infill developments across Arizona.

The borrower, a Phoenix-based real estate developer with over $500M in completed projects, is spearheading the development of a 125-unit luxury apartment complex on a 5.6-acre parcel located just minutes from downtown Phoenix. Designed with lifestyle and sustainability in mind. The development is expected to cater to Phoenix’s surging population of young professionals, healthcare workers, and remote-first tech employees looking for upscale, community-centric living.

The borrower initially approached several institutional lenders but encountered delays due to shifting risk appetites and tightening credit policies. Recognizing the need for a nimble, well-capitalized partner, their capital markets advisor, Desert Ridge Equity Partners, brought the opportunity to Fifty Stones Capital Group, known for its creative structuring and ability to act quickly on high-stakes construction deals.

“When other lenders slowed down, Fifty Stones stepped in and sprinted,” said Anthony Hakkins, the spokesman of the developer. “They understood the market, the sponsor, and the moment and they delivered.”

From day one, Fifty Stones Capital’s underwriting team rolled up their sleeves. The deal required deep coordination with the borrower’s legal, architectural, and GC teams, environmental consultants, and the city’s planning department. The final loan package was tailored to align with the project’s construction timeline, lease-up projections, and investor milestones.

Key Loan Terms:

• Loan Amount: $31,000,000

• Loan Type: Non-recourse construction loan

• Term: 24 months + two 6-month extension options

• Interest Rate: Floating rate tied to SOFR + spread (blended ~9.25%)

• LTC (Loan-to-Cost): 70%

• Structure: Interest reserve + draw schedule based on project milestones.

“This wasn’t just a construction loan, it was a bet on Phoenix, on smart growth, and on a sponsor with vision,” said Mark She, CEO of Fifty Stones Capital Group. “We’re proud to be part of a project that’s shaping the future of this city.”

About Fifty Stones Capital Group

Fifty Stones Capital Group is a nationwide private real estate lender focused on providing fast, flexible capital for construction, bridge, and value-add projects across multifamily, industrial, and specialized asset classes. Known for solving complex capital challenges and executing with speed, Fifty Stones is a trusted partner for sponsors and brokers across the country. For more details, visit www.fiftystonescapitalgroup.com or send an email to info@fiftystonescapitalgroup.com.