Limited Services Hotel Financing
- Loan Amount: $9,450,000
- Purpose: Acquisition Loan
- Capital Source: Debt Fund
- Term: 3 Years
- Amortization: Interest Only
- Recourse: Non-Recourse
Tower Capital arranged $9,450,000 in financing for the acquisition of a 108-key, limited service, Wyndham-flagged hotel located in Peoria, AZ. The non-recourse loan is floating at a rate of SOFR + 6.45%. The 3-year loan was closed within weeks of application and provided the borrower with 70% LTC financing. The Wyndham hotel is located next to major demand drivers including the Peoria Sports Complex, University of Phoenix Stadium and Gila River Arena. Tower Capital conducted a full marketing process and was able to leverage market interest to secure the most competitive terms by focusing on the assets’ superior location as well as our Sponsor’s 40-year track record owning and renovating hotels.
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 $300 Million and have financed over $2.5 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.