$78.5M construction take-out financing arranged for Tempe multifamily community

• JLL Capital Markets arranged $78.5 million in construction take-out financing for The Alyssa, a 335-unit Class A multifamily community in Tempe, Arizona
• Corten Real Estate Partners provided permanent financing
• The 2024-vintage property is positioned along the Salt River in Tempe's premier Tempe Marketplace district with direct access to Arizona State University and major employment corridors
• Property achieved stabilization within 18 months of delivery, positioning it as a market leader among recent Class A deliveries

PHOENIX, Nov. 5, 2026 – JLL Capital Markets announced today that it has arranged $78.5 million in construction take-out financing for The Alyssa, a 335-unit Class A multifamily community in Tempe, Arizona.

JLL worked on behalf of the borrower, CrossHarbor Capital Partners, to secure the loan from Corten Real Estate through its senior credit platform.

Delivered in 2024, The Alyssa is a four-story community offering studio, one-, two-, and three-bedroom floor plans ranging from 504 to 1,658 square feet with an average unit size of 881 square feet. Unit interiors showcase natural stone countertops, shaker-style cabinetry, wood-style flooring, custom pendant and under-cabinet lighting, stainless steel appliances, 10-foot ceilings in living rooms and full-size in-unit washers and dryers. The property offers a resort-style amenity package, including a swimming pool with fountain features and sundeck, outdoor lounge with fireplace and private dining spaces, Peloton-equipped fitness center with cardio and strength equipment, co-working lounge with coffee bar, 605-space controlled-access parking garage with EV charging stations, and a community pet wash station. The Alyssa achieved stabilization just 18 months after delivery, demonstrating exceptional lease-up velocity in one of Metro Phoenix's most competitive submarkets.

The Alyssa is strategically positioned at 98 South River Drive in the North Tempe/University submarket, one of Metro Phoenix's most resilient multifamily markets anchored by Arizona State University's 55,000+ students at the Tempe campus and a rapidly expanding technology and finance employment corridor along Tempe Town Lake. The property sits adjacent to Tempe Marketplace, a 1.3 million-square-foot outdoor lifestyle center featuring over 100 shops, bars, and restaurants that attracts nearly 17 million visitors annually.

The location provides exceptional walkability and transit connectivity, with the Metro Light Rail connecting residents directly to Arizona State University, Downtown Phoenix, Phoenix Sky Harbor International Airport, Downtown Mesa and North Phoenix.

JLL's Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Brad Miner, Director Drew Lydon, Analyst Jack Kurschat and Analyst Henry Smith-Hastie.

"This transaction reflects Corten’s confidence in both CrossHarbor's institutional platform and the exceptional fundamentals of the North Tempe submarket," said Miner. "The Alyssa represents best-in-class product delivered by Streetlights Residential, which is performing ahead of underwriting expectations under Greystar's professional management.”

"The property's location within Tempe Marketplace and along Tempe Town Lake positions it at the epicenter of one of Phoenix's most dynamic live-work-play corridors," added Lydon. "The Alyssa sits within a seven-minute drive from Marina Heights, home to corporate offices for State Farm, Carvana and Amazon, with direct light rail access to Arizona State University's Tempe campus, Downtown Phoenix and Sky Harbor International Airport. The strategic positioning with direct access to the Loop 101/Loop 202 interchange provides residents with unparalleled connectivity throughout the greater Phoenix metropolitan area."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of September 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Founded in 1993, CrossHarbor Capital Partners is a real estate investment manager offering a multi-strategy investment platform providing investors with broad access to opportunities across property types, geographies, and the capital structure. With a $34+ billion investment track record, the firm currently has $11.0 billion in assets under management in investment programs spanning the risk-return spectrum. Through its nation-wide, relationship-driven origination platform, disciplined investment approach, and experienced team of professionals, CrossHarbor seeks to generate consistent, risk-adjusted performance while focusing on capital preservation. CrossHarbor is based in Boston with offices in Chicago, Los Angeles, and Big Sky. For more information, please visit www.CrossHarborCapital.com

Corten Real Estate is a dynamic real estate investor/operator that targets middle-market assets across the United States impacted by varying financial, operational, or strategic pressures. The Firm specializes in creating unique capital solutions – utilizing both debt and equity instruments – to address situations faced by a variety of stakeholders.