Berkadia Secures $30M Fannie Mae Cash-out Financing for the Havenly Superstition in Apache Junction, Arizona
Apache Junction, Arizona – May 7, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it has secured $30 million in Fannie Mae cash-out financing for The Havenly Superstition, a 166-unit horizontal apartment/cottage-style build-to-rent (BTR) community located in Apache Junction, Arizona. The financing was arranged on behalf of Keystone Homes by Senior Managing Director Scott Holland, Senior Directors Vin Basa and Brad Burns, and Vice President Jeremy Hammill of Berkadia Scottsdale. The deal closed on April 17.
The seven-year, fixed-rate loan offers full-term interest-only payments and provides cash-out proceeds to the borrower.
“This financing provides our client with strong ongoing cash flow through full‑term interest‑only payments and positions them to maximize value from this high‑quality BTR community,” said Basa. “We are proud to support Keystone Homes as they help meet the growing demand for rental housing across the greater Phoenix market.”
“We are proud to have completed and stabilized this community, marking our second fully delivered and stabilized BTR asset within our four-community portfolio. This project demonstrates our ability not only to build for sale, but also to build and hold long-term investments. We will continue to pursue similar Opportunity Zone locations for future BTR developments. Our operating and development model continues to drive value, as evidenced by the premium rents our communities achieve within their respective submarkets,” said Rich Eneim Jr. of Keystone Homes.
Located at 695 E. Superstition Blvd and completed in 2025, The Havenly Superstition consists of 166 horizontal/cottage-style rental units designed to offer residents the privacy and comfort of single-family living, combined with the convenience of professionally managed leasing. Residents enjoy breathtaking views of the Superstition Mountains and an array of amenities including a heated resort-style pool and spa, a dog park, clubhouse, and community garden.