Sandstone Condominiums – Phoenix, AZ
- Loan Amount: $1,400,000
- Purpose of Loan: Refinance
- Capital Source: Bank
- LTV: 75%
- Term: 12 Years
- Prepayment: Step-down
Sandstone condominiums is a 12 unit multifamily property located in Phoenix, Arizona. The local experienced sponsorship purchased the property in order to entitle and sell to a developer. The 100% occupied asset provides the sponsor with cash flow during the entitlement process. The low interest rate loan secured by Tower Capital offered the most flexibility with a 5-year term and no prepayment.
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.