Single Family Build-To-Rent

  • Capital Source: Non-Bank Lender
  • Purpose of Loan: Acquisition Financing
  • Loan Amount: $37,500,000
  • LTC: Confidential
  • Term: 2 Years Floating
  • Recourse: Non-Recourse

Transaction Details:

Tower Capital recently arranged high leverage acquisition financing for 169 to-be-built for-rent townhomes in the Charlotte, NC MSA.  The project features two-story three-bedroom homes with an average square footage of 1,900 feet across six distinct floor plans.  The homes will also include 2 car direct access garages and will cater to families in the surrounding area due to its high scores for schools, good retail and a more secluded family setting.

The loan is floating rate at SOFR plus 450 bps, and has a 2-year term with a 6-month extension option.  The structured facility will allow the borrower to acquire the individual homes as they receive certificates of occupancy in separate phases.

Tower leveraged its extensive expertise in the single-family rental sector to source options for the Sponsor that met their goals and objectives. Tower’s client, an Arizona-based real estate investment company has a 25-year track record acquiring and stabilizing multifamily assets throughout the country.

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 $300 Million and have financed over $2 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.