Tax Question - Transferring a property from one LLC to another LLC

[David Segal]

I have a new build project that I am in the middle of building with the intent to sell once finished. I am about to refinance from one hard money lender to another. It is just rate and terms refi, so we can increase the construction loan amount which will be taken on draws. The property is currently in an LLC that is a disregarded entity that flows to another LLC taxed as S-Corp. The initial lender allowed my JV partner to co-sign the initial loan and not have to be part of the LLC currently holding title the property. The new lender is requiring the JV partner to be a member of the LLC that will hold title. I dont want to add my JV partner to my current LLC for a variety of reasons. I would rather create a new LLC to take title in and have it be taxed as a partnership between my current LLC and the JV partner. That way my proceeds once the property is sold, will flow to my LLC taxed as S-Corp. The property is in Arizona and we don't have a property transfer tax in Arizona. I am trying to figure out if there are any other tax implications I need to be aware of by transferring the property from one llc to another when I refinance with the new lender?