Santa Fe Apartments – Las Vegas, NV
- Loan Amount: $8,050,000
- Purpose of Loan: Acquisition
- Capital Source: Fannie Mae
- LTV: 70%
- Interest Rate: 4.68%
- Term: 12 Years
- Amortization: 30 Years
- Interest only: 1 Year
- Prepay: Yield Maintenance
- Non-Recourse
Transaction Details:
Santa Fe is a 145 unit, class B apartment property located in Las Vegas, Nevada. Originally built in 1988, the property features a mix of one and two bedroom units, across four different floor plans. The Fannie Mae loan arranged by Tower Capital will allow the borrower to complete an exterior facelift to the asset, as well as update the interior of the units, allowing them to increase rents, NOI, and value.
Tower’s client is an experienced, Southern California-based, private investor with a portfolio consisting of approximately 5,000 multifamily units throughout the southwestern US.
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.
