Parkside Apartments – Mesa, AZ
- Loan Amount: $3,600,000
- Purpose: Refinance
- Capital Source: Freddie Mac
- LTV: 50%
- Term: 7 Years
- Rate: 5.08%
- Prepay: Yield Maintenance
Cambridge Place is a 15-unit multifamily property located in Phoenix, Arizona. The 2-story property was originally built in 1986 and is comprised of frame and stucco construction. The property benefits from easy access to the AZ-51 Freeway and is directly adjacent to Phoenix Children’s Hospital. Currently the property is 100% leased.
The borrower is a private investor based in northern California and owns other Phoenix real estate assets.
The low leverage Freddie Mac Small Balance loan provides the borrower with a 10-year fixed rate term at a 5.35% interest rate. The loan pays off their existing debt and provides significant liquidity back to the borrower to be used towards additional investment opportunities.
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.