The Comfort Inn – Phoenix, AZ
- Loan Amount: 6,200,000
- Purpose of Loan: Refinance
- Capital Source: Bank
- LTV: 62%
- Term: 10 years
- Rate: Hybrid (4.85% for the first 5 years, then US Treasury+300 bps with a floor of 4.85%)
- Amortization: 25 years
- Prepay: Step Down
The Comfort Inn is a 3-story, 122 key, limited service hotel built in 1997 and located in Phoenix, Arizona. The property was acquired in December of 2015 by Tower Capital’s client, an experienced hotel owner/operator, based in Toronto.
The $6,200,000 loan secured by Tower Capital through a local bank allows the borrower to recoup costs for capital improvements and recover equity invested into the property.
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.