Glen Park Apartments – Glendale, AZ
- Loan Amount: $3,495,000
- Capital Source: Bank
- Purpose of Loan: Cash-out Refinance
- LTV 70%
- Term: 10 Years
- Amortization: 30 Years
- Interest Rate: 3.75% fixed
- Prepayment: 3-2-1
Transaction Details:
Glen Park is an 88-unit multifamily property located at 6301 North 64th Drive in Glendale, Arizona. The property was originally built in 1972 and boast a very desirable unit mix of one-, two-, and three-bedroom units. The $3,495,000 loan secured by Tower Capital provided the borrower with close to $1,764,000 cash out which was used to recoup costs of already completed capital improvements and with additional funds to be applied towards other investment opportunities.
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.
