Arrowhead Estates is a 242-unit multifamily property located in North Little Rock, Arkansas. Tower Capital assisted the borrower, an experienced private group based in Los Angeles with value add multifamily assets throughout the country, in securing a $5,700,000 long-term, fixed-rate loan, from Fannie Mae. The loan proceeds provided a complete return of equity, plus cash back, to the borrower and their investors.
The project was built in 1973 and features common area amenities such as a swimming pool, basketball court, and playground. The property was acquired by the borrower in December 2014 through a non-performing note purchase from HUD for approximately $2.7 million. At the time of acquisition, the property suffered from high vacancy and deferred maintenance. Through an extensive renovation plan and selecting a strong, local property management company, the borrower was able to stabilize the property and boost NOI significantly.
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.