Tower Capital arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit BTR community at 29th Ave. and Sonoran Desert Dr. in the Phoenix market. The sponsor, Empire Group, commenced construction on the project in 2023 and will deliver units later this year. Tower Capital’s Kyle McDonough, George Maravilla, David Stull, and Noah Schott originated the non-recourse construction financing via a debt fund. 

Tower Capital has provided a $79.5 million refinancing for the Village at Bronco Trail, a 354-unit build-to-rent community in North Phoenix.

PHOENIX — Tower Capital has arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit build-to-rent (BTR) community in Phoenix. The sponsor, Scottsdale, Ariz.-based Empire Group, started construction on the project in 2023. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the nonrecourse construction financing via a debt fund.

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Village at Centerpoint Station will consist of 270 homes on 24 acres near the outlet malls. At the end of this report, check out a list of volume homebuilders in the metro.

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SAN MARCOS, TEXAS — The Empire Group has received a $58 million construction loan for Village at Centerpoint Station, a build-to-rent (BTR) project in San Marcos, roughly halfway between San Antonio and Austin, Texas. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the financing on behalf of the developer.

Tower Capital, a Scottsdale, Ariz.,-based private real estate capital advisory firm, has expanded its portfolio in the build-to-rent sector with three loans totaling $83 million. The financing is for projects in Texas, Arizona and Colorado.

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Tower Capital arranged a $58 million construction loan for the development of the Village at Centerpoint Station, a 270-unit BTR project in San Marcos, TX, being developed by The Empire Group. Tower Capital’s Kyle McDonough and George Maravilla led a team that originated the financing on behalf of the borrower. 

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Real estate private credit managers led the way to recovery in 2024, with firms raising and deploying substantial capital for acquisitions, refinancings and developments despite macroeconomic and geopolitical volatility and higher rates. Find out which managers came out on top in 2024.

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While some are bullish, other builders have concerns about the future of the Valley's residential market amid high interest rates and rising construction costs

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