Roeser Apartments – Phoenix, AZ
- Loan Amount: $1,050,000
- Purpose: Refinance
- Capital Source: Bank
- LTV: 75%
- Term: 10 Years
- Rate: 4.10%
- Prepay: Stepdown
Roeser Apartments is a 20-unit multifamily property located in Phoenix, Arizona. The borrower, a California-based private investor with other multifamily properties, acquired the property with cash in September 2018 for $1,350,000 and has since completed a number of capital improvements including a complete exterior rebrand with new signage, exterior paint, landscaping, and parking lot resurface and restripe. New appliances as unit upgrades in select units. They have already turned over 25% of the tenants with better quality, higher paying tenants. The property sits directly adjacent to South Mountain High School, with a public bus stop immediately in front of the property, making this a desirable location for many area tenants.
The 75% LTV loan allowed the borrower to pay off their existing acquisition bridge loan, cover financing costs, recoup money spent of capital improvements, and pull some extra cash out for 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.