Retro on 32nd Street is a 62-unit, garden-style, multifamily property located in the “Arcadia Lite” submarket of Phoenix, Arizona. Originally built in 1968 and comprised of block construction, the property was given a complete exterior rebrand in 2017, with new paint, landscaping and signage. The master-metered property is comprised of thirty-two studios, twenty-eight 1bed/1bath units and two 2bed/1bath units.
The low interest, fixed-rate loan secured by Tower Capital offers an initial 5-year fixed rate term of 4.1% and then adjusts to no greater than 4.6% for years 6-10, with a 3-2-1-1-1-1-1-1-1-.05 prepayment structure. The buyer is a private investor based in Northern California.
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.