3400 NW Grand Avenue Apartments
- Capital Source: Private Lender
- Purpose of Loan: Refinance
- Loan Amount: $3,000,000
- LTV: 55%
- Rate: 11%
- Term: 6 months
- Amortization: Full Term I/O
- Prepayment: None
- Recourse: Non-Recourse
Transaction Details:
Tower Capital arranged a $3,000,000 refinance of a 133-unit multifamily property in Phoenix, AZ. The borrower has this property on the market for sale and saw an investment opportunity he wanted to capitalize. In six business days, Tower Capital found a private lender to provide three million in proceeds so the borrower could purchase another asset in Arizona
The borrower is an experienced Arizona investor with many assets under management and owned this asset free and clear. Finding the right lender to provide acceptable terms was seamless and because this particular lender’s criteria is asset based and the leverage so low, there were no third parties that needed to be issued.
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 $3 Million to $300 Million and have financed over $1.3 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.
