Mi Casitas Apartments – Tucson, AZ

  • Loan Amount: 1,200,000
  • Purpose of Loan: Acquisition
  • Capital Source: Credit Union
  • LTV: 80%
  • Interest Rate: 4.445% fixed for 5 years
  • Term: 15 Years
  • Prepay: None
  • Recourse

Transaction Detail:

Mi Casitas is a 47-unit multifamily property located in Tucson, Arizona. The property was constructed in 1961 and features a unit mix of 22 one-bed one-bath units, 24 two-bedroom one-bath units, and 1 three-bed two-bath unit. Project amenities include community BBQ area, swimming pool and laundry facilities.

Tower Capital’s client is an experienced multifamily investor who seeks mismanaged properties to renovate and increase NOI and value.   

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.