Office Refinance – Tempe, AZ
- Capital Source: Credit Union
- Purpose of Loan: Refinance
- Loan Amount: $2,000,000
- LTV: 62.5%
- Rate: 4.125%
- Term: 5 Years
- Amortization: 25 Years
- Prepayment: None
- Recourse: Recourse
Transaction Details:
Tower Capital recently secured a $2,000,000 loan for a 10,399 square foot office condo located in Tempe, AZ. The property was acquired by the borrower in August 2018 who performed an extensive renovation and secured a local long term credit tenant. The office condo has been completely remodeled with new flooring, office furniture, bathrooms and interior paint and décor. The property was 100% occupied at the time of the refinance.
The senior loan provides the borrower a 5-year term, fixed at 4.125%. The zero prepayment offers the borrower flexibility should they wish to sell or pull cash out of the property through an additional refinancing down the road.
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 $1 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.
