The Comfort Inn – Phoenix, AZ

The Comfort Inn – Phoenix, AZ

  • Loan Amount: 6,200,000
  • Purpose of Loan: Refinance
  • Capital Source: Bank
  • LTV: 62%
  • Term: 10 years
  • Rate: Hybrid (4.85% for the first 5 years, then US Treasury+300 bps with a floor of 4.85%)
  • Amortization: 25 years
  • Prepay: Step Down

Transaction Details:
The Comfort Inn is a 3-story, 122 key, limited service hotel built in 1997 and located in Phoenix, Arizona. The property was acquired in December of 2015 by Tower Capital’s client, an experienced hotel owner/operator, based in Toronto.

The $6,200,000 loan secured by Tower Capital through a local bank allows the borrower to recoup costs for capital improvements and recover equity invested into the property.


About Tower Capital:
Tower Capital is a Commercial Real Estate Finance firm specializing in debt and equity placement on behalf of commercial real estate investors throughout the country. They offer borrowers conventional permanent financing through their commercial mortgage brokerage division, as well as short term bridge solutions through their in-house private money platform.