MULTIFAMILY ACQUISITION LOAN – PHOENIX, AZ
- Capital Source: Bank
- Purpose of Loan: Acquisition
- Loan Amount: $1,621,000
- LTV: 70%
- Rate: 3.30%
- Term: 10 Year Term / 5 Year Fixed
- Amortization: 30 Years
- Prepayment: Step Down
- Recourse: Full Recourse
Tower Capital recently financed the acquisition of a 12-unit multifamily property located in Phoenix, Arizona. The property is comprised of five 1 Bed / 1 Bath, six 2 Bed / 1 Bath and one 3 Bed / 1 Bath units. The borrower is an experienced, local, multifamily investor who plans to hold the asset long term.
The 10-year acquisition loan provided the borrower with a five-year fixed interest rate of 3.30% based upon a 70% loan-to-value. Tower Capital was able to successfully arrange the financing on behalf of the borrower within a critical timeframe as the property had just recently achieved stabilization.
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 $3 Million to $300 Million and have financed over $1.3 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.