Venture on Wilson Apartments – Tempe, AZ
- Loan Amount: $992,200
- Capital Source: Private Investor
- Purpose of Loan: Acquisition
- LTC: 70%
- Term: 18 Months
- Rate: 7.50%
- Prepay: 6 Months
Venture on Wilson is a mid-century modern, 12-unit value add multifamily property located in Tempe, Arizona. Tower Capital’s client, a local crowdfunding firm, acquired the property for $1,200,000 or $100,000 per unit. The project is walking distance to Arizona State University, Mill Avenue and major employers such as State Farm, ADP and JP Morgan. The borrower plans to renovate the exterior and interior of the property in order to increase rents and ultimately increase value. The loan secured by Tower Capital provided the borrower with a quick closing and flexible capital to renovate and sell 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.