Village At Pioneer Park – Peoria, AZ
- $56,000,000 Construction Loan
- 332-Unit Build-to-Rent Community
- Peoria, Arizona
Tower Capital successfully arranged construction financing for a 332-unit build-to-rent community totaling $56,000,000. Located at the southwest corner of 83rd Avenue and Olive Avenue, the Village at Pioneer Park units will average 950 square feet and will have premium countertops, stainless steel appliances, ten-foot ceilings, walk-in closets, smart home technologies and private yards. The community will feature detached garages with storage units, a designer workout facility, a resort-style pool and spa, a dog park and gated entrance. Construction is scheduled to be completed in 2022.
Village at Pioneer Park is at the forefront of the new and rapidly growing asset class called single-family build-to-rent. The asset class is uniquely positioned between multifamily and single-family to provide a lifestyle for people who desire the privacy and backyard offered by single-family living. The asset class also appeals to those who have grown accustomed to living independently and are looking to downsize in space from larger single-family homes often requiring more maintenance and upkeep.
The non-recourse construction financing garnered tremendous interest from an array of capital sources, including banks, non-bank lenders, debt funds and other balance sheet lenders. Tower Capital’s lending sources are currently seeking opportunities in multifamily, single-family build-to-rent and industrial, among other assets classes. For more information, please contact Kyle McDonough at (480) 734-8180, George Maravilla at (602) 697-5501 or Vin Basa at (480) 241-6909
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 $1 Billion for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.