Single Family Build-to-Rent Community
- Capital Source: Bank
- Purpose of Loan: Construction Financing
- Loan Amount: $27,674,070
- LTV: 65%
- Rate: 3.35%
- Term: 36 Months + Two (1) Year Extensions
- Amortization: Interest Only
- Prepayment: None
- Recourse: Partial Recourse
Tower Capital successfully arranged partial recourse construction financing for a build-to-rent Multifamily community totaling $27,674,070. The subject property consists of 167 luxury units featuring 1 & 2 bedroom units, walking-paths, community areas, a dog-park, clubhouse, fitness center, pool and spa. The project will consist of five detached residences and 81 duplex residences, and all will feature private entrances, 9’ ceilings, full-sized washer/dryer in each unit, luxury vinyl faux wood flooring, private backyards, stone countertops, stainless steel appliances and smart home features and technology. The subject property will also feature 60 detached garages and 60 storage units. The site is an in-fill site proximate to Luke Air Force Base and related off-campus base housing. The site is in a newly emerging area with major industrial/distribution parks along Loop 303. This build-to-rent development will our client’s 8th community in their pipeline.
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.