Atlas Mesa Secures $92.1 Million Refinancing
The 394-unit Mesa, Arizona apartment community received a refinancing loan from QuadReal Property Group.
Updated on Nov. 10, 2026 in Commercial
The Dinerstein Cos. and PCCP refinanced Atlas Mesa, a 394-unit Class A garden-style multifamily community in Mesa, Arizona, with a $92.1 million loan from QuadReal Property Group. JLL Capital Markets arranged the refinancing on behalf of the borrowers.
Why it matters
The refinancing shows continued lender interest in Class A multifamily properties in the Phoenix metro area. The transaction replaces the construction financing that supported the community's development.
The refinancing loan of $92.1 million exceeds the $85.1 million construction loan secured for the property in December 2023. Terms including interest rate and maturity were not disclosed.
The players
QuadReal Property Group
QuadReal Property Group is a Vancouver-based global real estate investment firm that manages institutional and private capital across multiple asset classes.
JLL Capital Markets
JLL Capital Markets is the capital markets division of JLL, a global commercial real estate services firm that advises on debt and equity transactions.
Dinerstein Cos.
Dinerstein Cos. is a Phoenix-area real estate development firm that has developed multifamily communities across the Southwest.
The details
Developers unveiled plans for Atlas Mesa in February 2023 and broke ground in July 2023. The community sits on 9.8 acres at 5818 E. Baseline Road, with rents ranging from $1,620 to $2,477.
Timeline
February 2023: Developers unveiled plans for Atlas Mesa.
July 2023: Developers broke ground on the community.
December 2023: Dinerstein and PCCP secured an $85.1 million construction loan.
The refinancing with the $92.1 million QuadReal loan was reported later.
Market Landscape
The refinancing follows the December 2023 construction loan that financed Atlas Mesa's development in the Phoenix metro. It reflects how Class A garden-style apartment projects in the region move from construction financing to permanent debt once leased.
Renters considering Atlas Mesa will see monthly rents from $1,620 to $2,477 for units ranging from 562 to 1,394 square feet. The refinancing does not change current lease terms reported for the community.
The takeaway
Refinancings like this one show how construction-stage Class A apartment projects transition to long-term debt. Renters and investors can watch these transactions as signals of lender confidence in Phoenix-area multifamily assets.
Further reading
Explore more commercial real estate coverage for context on financing trends in Mesa.
Source note: This article includes information reported by 301 Moved Permanently.
