Scottsdale, Arizona-based commercial real estate finance company Tower Capital has promoted Vin Basa to senior vice president. Basa will continue to focus on loan originations as well as debt and equity placements across the multifamily, single-family, hospitality and build-to-rent residential markets. Read Full Article
Tower Capital arranged more than $20 million in non-recourse construction financing for Proximity 7th, a build-to-rent (BTR) multifamily community being developed by Avenue North real estate investments in Phoenix. The seven-acre property is located at 801 E. Euclid Ave. and will house an 84-unit BTR development that’s expected to deliver the first units in 2023’s first quarter. […]
The volatility in the economic markets is creating a need for commercial real estate borrowers to include an experienced and independent mortgage team to close deals today. Investors require financing experts who can move with speed and efficiency, while still bring a deep understanding of capital markets – especially given the rapid shifts and adjustments […]
McCormack Commercial, a Houston-based commercial real estate firm, broke ground on a more than 1.3M SF Class-A industrial park in north Fort Worth. Read Full Article
Tower Capital arranged $27.8 million in non-recourse construction financing for a build-to-rent multifamily community in McKinney, TX. The 13.2-acre property, which was purchased by Hanson Capital in 2019, is located at 2703 Rockhill Road and will house a 128-unit development that is expected to deliver in Q1 2023. The financing arranged by Tower Capital allows […]
More than 30 Arizona companies were named to the third annual Inc. 5000 Regionals Southwest list, a ranking of the fastest-growing private companies based in Arizona, New Mexico, Oklahoma and Texas. Born of the annual Inc. 5000 franchise from Inc. magazine, the Inc. 5000 Regionals list represents a unique look at the most successful companies within the Southwest economy’s independent small businesses. “This year’s […]
MCKINNEY, TEXAS — Tower Capital, a Phoenix-based finance and advisory firm, has arranged a $27.8 million construction loan for a 128-unit build-to-rent community in the northern Dallas suburb of McKinney. The development will span 13.2 acres and offer one-, two- and three-bedroom residences. The amenity package will consist of a pool, spa, fitness center, dog […]
The outlook for Arizona, especially the Greater Phoenix MSA, is extremely optimistic rolling into 2022. Continued population growth and positive demographic trends will keep demand high for housing and other assets classes. The Greater Phoenix Economic Council (GPEC) and other industry organizations have been successful in luring companies to Arizona making the state a major […]
The sentiment was positive at the IREM CCIM Annual Economic Forecast which was held at the Biltmore Resort in Phoenix, Arizona on Friday, January 14, 2022. The event featured keynote speaker Elliot Pollack, a local economist, CEO of Elliot D. Pollack and Company, teacher, consultant, and author. Elliot was preceded by four panels of experts […]
Every lender in the country is fighting for any industrial deal that comes to the market, including warehouse, distribution, flex and cold storage properties. Borrowers are seeing extremely aggressive terms such as higher leverage, longer interest-only periods and sub-3% rates. The low cost of tenant improvements and common area maintenance combined with the “stickiness” of […]
