McKinley Row Townhomes – Phoenix, AZ
- Loan Amount: $4,500,000
- Capital Source: Private Lender
- Purpose of Loan: Construction
- LTV: 70%
- Term: 10 Months
McKinley Row is a new 18-unit townhome development located at the northwest corner of 4th Avenue and McKinley Street in the historic Roosevelt District of downtown Phoenix, Arizona. The unit mix will consist of seventeen, 1,770 square foot, 2 bed x 2.5 bath townhomes, and one, 2,191 square foot, 2 bed x 2.5 bath corner unit. The townhomes also feature 2-car garages and a first floor studio/office.
Total project cost is projected to be $6,317,523, which is inclusive of hard and soft costs. The loan amount of $4,500,000 secured by Tower Capital represents approximately 71% LTC.
Metrowest Development is a Chicago and Phoenix based development company specializing in for sale townhomes, as well as apartment rental communities. The company has focused its development efforts in the historic Roosevelt District of downtown Phoenix, where one of its partners has had a strong presence in the community there since the 1990’s.
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.