Harris Place Apartments – Phoenix, AZ
- Loan Amount: $1,200,000
- Capital Source: Bank
- Purpose of Loan: Cash-out Refinance
- LTV 67%
- Term: 5 Years
- Amortization: 30 Years
- Interest Rate: 3.78% fixed
- Prepayment: 1%
Harris Place is a 48 unit multifamily property located in Mesa, Arizona. The borrower is an experienced owner-operator with many other multifamily properties throughout the Phoenix metropolitan area. The low interest, fixed rate loan secured by Tower Capital provided the borrower with $425,000 cash out and allowed them to recuperate close to 100% of their total equity invested into the property after only six months of owning the asset.
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.