Santa Fe Apartments – Las Vegas, NV

Santa Fe Apartments – Las Vegas, NV

  • Loan Amount: $8,050,000
  • Purpose of Loan: Acquisition
  • Capital Source: Fannie Mae
  • LTV: 70%
  • Interest Rate: 4.68%
  • Term: 12 Years
  • Amortization: 30 Years
  • Interest only: 1 Year
  • Prepay: Yield Maintenance
  • Non-Recourse

Transaction Details:
Santa Fe is a 145 unit, class B apartment property located in Las Vegas, Nevada. Originally built in 1988, the property features a mix of one and two bedroom units, across four different floor plans. The Fannie Mae loan arranged by Tower Capital will allow the borrower to complete an exterior facelift to the asset, as well as update the interior of the units, allowing them to increase rents, NOI, and value.

Tower’s client is an experienced, Southern California-based, private investor with a portfolio consisting of approximately 5,000 multifamily units throughout the southwestern US.


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.