Casa Sol - Phoenix, AZ

Casa Sol – Phoenix, AZ

  • Loan Amount: $15,390,000
  • Purpose: Acquisition
  • Capital Source: CMBS
  • LTV: 75%
  • Term: 10 Years
  • Rate: 3.91%
  • Amortization: 30 Years
  • Interest Only: 3 Years
  • Prepay: Defeasance
  • Non-Recourse

Transaction Details:
Casa Sol is a 248-unit, garden-style, multifamily property located in Phoenix, Arizona. The property was originally built in 1985 and provides residents a choice of 11 different floor plans ranging from a 473 sq. ft. studio to a 1,192 sq. ft. three bed / one bath unit. The property rests on 7.87 acres and offers residents numerous amenities including a clubhouse, 2 swimming pools, 2 laundry facilities, and a playground.

A recent pullback in production from both Fannie Mae and Freddie Mac has forced borrowers to seek alternative sources of high leverage, non-recourse, permanent financing for multifamily properties. One of Tower Capital’s capital partners is currently offering a “Private Label” conduit product where they are both the originator, servicer, and B-piece buyer, offering a high level of execution certainty. The 10-year fixed rate loan provides a competitive 3.91% coupon and 3 years of interest only payments.

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 $700 Million for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.