Phoenix Single Family Rental Portfolio, Phoenix, AZ

  • Capital Source: Bank
  • Purpose of Loan: Refinance
  • Loan Amount: $1,300,000
  • Max LTV: 70%
  • Rate: 3.875%
  • Term: 15 Years
  • Amortization: 15 Years
  • Prepayment: Open

Transaction Details:

Tower Capital was recently engaged to refinance a 13-home, single family rental portfolio, that is dispersed throughout the West Phoenix submarket. The borrowers, a duo of two local husband and wife investors, had owned the homes for many years and were seeking to refinance an existing bank loan that was approaching maturity and now in an open prepay period. The borrower’s goals were to lock in long term, fully amortizing, fixed rate debt, so they could payoff the assets in the future benefit from the cashflow during retirement years.

Most of the homes were appraised in the $250,000 range so the $1,300,000 loan represented about 38% LTV and offered the borrowers a 15-year, fully amortizing loan at 3.875%. The open prepay structure allows the borrowers to divest of the homes individually if their investment strategy changes.

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 $3 Million to $300 Million and have financed over $1.3 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.