Tower Capital Advises on $22 million in Financing for a 207-Unit Single-Family Build-For-Rent Townhome Development – Gilbert, AZ
- Property Type: Single-Family Build-to-Rent
- Financing Amount: $22,000,000
- Purpose: Ground Up Development
- Location: Gilbert, AZ
- Capital Source: Institutional Private Equity
PHOENIX, April, 2021 – Tower Capital arranged a programmatic joint venture with an institutional private equity firm, which resulted in $22 million in financing for a townhome rental development, TOWN on Germann. This is the 2nd of 3 financings that are part of a $50M programmatic joint venture that Tower arranged.
TOWN Germann will consist of 207-unit townhomes on a 14.50-acre site in Gilbert, Arizona. The site benefits from its close proximity to several major freeways and major employer such as Intel, Wells Fargo PayPal, Northrop Grumman and General Motors Financial. The two- and three-bedroom homes will include a two-car attached garage, two bathrooms, a powder room and convenient in-unit laundry rooms. Each unit will also feature bright kitchens with granite countertops, plentiful cabinets, handsome flooring and upgraded fixtures. Each home at TOWN on Germann also includes a private courtyard and viewing decks that is perfect for pets, barbeques and enjoying the outdoors along with a couple of viewing decks.
Designed for move-down baby-boomers and move-up millennials, the 2 & 3 bedroom townhomes at TOWN on Germann will be positioned at attainable monthly lease rates.
Tower Capital has successfully closed more than $300 million in financing transactions for Build-for-Rent product and continues to be a leader in the marketplace with another $1 billion of projects in the pipeline. The firm’s pipeline of projects spans multiple states including in Arizona, Texas, Alabama, Georgia and Florida.
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.