Casa Maribela Apartments – Phoenix, AZ
- Loan Amount: $7,520,000
- Capital Source: Freddie Mac
- Purpose of Loan: Acquisition
- LTV: 80%
- Term: 7 Years
- Interest Rate: 30 Day LIBOR + 2.60%
- Amortization: 30 Years
- Interest Only: 24 Months
- Prepay: 1 Year lockout followed by 1% for remaining term
Casa Maribela is a 192 unit multifamily property located in Phoenix, Arizona. The stabilized property was acquired for $9,400,000 or $48,958/unit by Tower Capital’s client, an experienced California based investor.
The $7,520,000 non-recourse loan secured by Tower Capital provided the borrower with 80% LTV and a flexible prepay schedule, allowing them to sell or refinance following month 12 of the initial loan term for only a 1% penalty.
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.