Windsor Palms Apartments – Phoenix, AZ
- Loan Amount: $2,500,000
- Capital Source: Bank
- Purpose of Loan: Cash-out Refinance
- LTV 70%
- Term: 5 Year Fixed Rate
- Amortization: 25 Years
- Interest Rate: 4.49% fixed
- Prepayment: None
Transaction Details:
Tower Capital recently financed a 23 home single family rental portfolio on behalf of a current client and active California-based commercial real estate investor in the Phoenix metropolitan area. The new financing arranged by Tower Capital allowed the borrower to pay off all of their existing lenders under a single purpose entity that created one, more convenient, loan payment at a lower overall interest rate. The loan also provided the borrower with approximately $800,000 cash out to be applied towards other investment opportunities.
Unlike many securitized loan products that are available today for single family aggregate transactions, the financing secured by Tower offers a lower fixed rate, with less fees, and no prepayment penalty, providing the borrower with flexibility to sell off the assets individually at any time during the loan term.
About Tower Capital:
Tower Capital was founded to enable owners of commercial real estate to achieve their investment goals with the least amount of time, energy, and cost, while creating surety of execution and peace of mind.
Established in 2015 and headquartered in Phoenix, Arizona, Tower Capital provides customized structured financing to investors throughout the United States. We specialize in debt and equity placement ranging from $2 Million to $100 Million and have financed over $500 Million for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.
