Highland Park Apartments – Phoenix, AZ
- Loan Amount: $3,320,000
- Purpose of Loan: Cash-Out Refinance
- Capital Source: Freddie Mac
- LTV: 71%
- Interest Rate: 4.66%
- Term: 10 Years
- Amortization: 30 Years
- Prepayment: 9.75 Year Yield Maintenance
- Recourse: Non-Recourse
Highland Park is a 70-unit, class C, garden style apartment complex located in Phoenix, Arizona. The property was originally built in 1974 and has a unit mix consisting of one and two-bedroom units. Amenities include a pool and spa, a playground, and on-site laundry facilities.
The property was acquired by the borrower, an experienced private investor, in 2010 in a short sale. Tower Capital aided the borrower in securing a long-term, fixed-rate loan, secured from Freddie Mac. The $3,320,000 loan (71% LTV) allows the borrower to refinance the existing debt on the property and to cash out their initial equity investment.
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.