Major Flag Hotel – Phoenix, AZ
- Capital Source: Boutique Private Equity Firm
- Purpose of Loan: Acquisition & Development
- Financing Amount: $7,200,000
Transaction Details:
Tower Capital and Affiliates is pleased to announce the successful capitalization of a 106-Key, limited service, hotel development for a major flag. The property is located in an opportunity zone adjacent to the Longbow Golf course in Mesa, AZ. Tower Capital and Affiliates introduced its client, Concord Eastridge, to a joint-venture equity firm based in southern California, which resulted in $7.2 million of equity financing. The capital allows the Sponsor to acquire the property, finalize construction drawings and prepare the site for vertical construction. The limited partner equity placement was the first in this new relationship.
Tower Capital and Affiliates leveraged their industry expertise and extensive equity relationships to market the equity request effectively which resulted in a term sheet within one week of engagement.
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.
