Sonoma Grand / Solano Terrace – Phoenix, AZ
- Loan Amount: $9,800,000
- Purpose of Loan: Acquisition
- Capital Source: Freddie Mac
- LTV: 80%
- Term: 7 Years
- 3 Years interest only payments followed by 30-year amortization
- Prepayment: 1-year lockout, 1% thereafter
- Non-Recourse
Transaction Details:
Solana Terrace, formerly known as Sonoma Grand, is a 288 unit multifamily property located in Phoenix, Arizona. Originally built in 1985, the property underwent a major renovation in 2013, which included new roofs, HVAC units, exterior paint, façade stonework, renovated common areas, and interior unit upgrades.
Qualifying as a Very Low Income property, our client is able to take advantage of Freddie Mac’s exceptionally low rates and interest only payments to maximize cash flow and the return to their investors.
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.
