Paragon Mortgage Corporation Arranges $ 18.6M HUD 221 (d) (4) for New Apartment Building Loan in Glendale, AZ


In 2018, Visiquest Properties bought the property and changed the platform to combine the 70 vacant lots into a single lot. With the lots came the majority control of the HOA and the communal areas. This created a clean slate that made it possible to develop the R-4 zone land into 96 two-story garden apartments. The 20 existing row houses (around 1973) along 59NS Ave are part of the platform, however not Part of the property. Plans include redesigning the exterior of the townhouse and all public areas to blend in with the new project, including a new pool, resident center, fences, landscaping, animal park and monument signage. More information about Visiquest and Joel Broder, Visiquest CEO, please visit

“Working with Joel and his Visiquest team has proven that dedication, perseverance and hard work pay off. Visiquest sees real estate differently and 59 Evergreen will be extraordinary,” said Jim Swanson, President of Paragon Mortgage.

Equipment of the property
Built to meet the National Green Building Standard (NGBS) bronze, design features include sound absorbing partitions, double pane windows with security locks, solid core doors for the private entrance with latches, and security systems available. 59 Evergreen offers smart home technology, green building certification, beautiful, efficient, clean designs, 5 open floor plans, café, bar, student union, co-working meeting point, tree partitions for open events, a yoga meadow by the pool, dog park, Parcel lockers, bicycle storage room, 200 parking spaces and public transport in front of the door.

Equipment of the unit
Private balcony / patio, blinds, vinyl plank flooring, quartz / granite countertops, central heating and air conditioning, wardrobes, walk-in closets, outdoor storage units, 2.50m ceilings, and full size washer and dryer. Kitchen appliances include refrigerators, self-cleaning ovens with stoves, garbage disposal, dishwashers and microwaves. Furnished units available.

About Paragon Mortgage
Paragon Mortgage Corporation is an FHA, HUD MAP, and LEAN approved mortgage lender that has focused exclusively on HUD-insured financing for over 34 years. Headquarters in Phoenix, Arizona, Paragon Mortgage is known for its highly experienced staff who have decades of experience in issuing, underwriting and processing HUD / FHA loans. That experience, combined with Paragon’s longstanding reputation in the industry and relationships within the developer community, has resulted in over $ 3 billion for FHA-insured loans. Paragon Mortgages For more information, please visit:

Lilla Abegg-Swanson
Vice President
[email protected]
(602) 347-6726

SOURCE Paragon Mortgage Corporation

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