Banyantree Apartments - Phoenix, AZ

Banyantree Apartments – Phoenix, AZ

  • Loan Amount: $1,900,000
  • Purpose: Refinance
  • Capital Source: Freddie Mac
  • LTV: 11%
  • Term: 7 Years
  • Rate: 5.08%
  • Prepay: Yield Maintenance
  • Non-Recourse

Transaction Details:
Banyantree is a 232-unit multifamily property located in Phoenix, Arizona. The 3-story, garden style asset was built in 1972 and offers residents a mix of 3-bed, 2-bed, 1-bed, and studio units in a lushly landscaped setting.

The borrower is a family run investment company that owns and operates several thousand units throughout Arizona, California, and Texas and is a long-term, repeat client of Tower Capital.

The low leverage Freddie Mac Small Balance loan provides the borrower with a 7-year fixed rate term at a 5.08% interest rate. The borrower chose to pay off their existing agency loan early, despite having to pay a prepayment penalty, in order to lock in low rates today.

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.