Tower Capital Arranges $19.1 Million Refinancing for Build-to-Rent Community in Charlotte, North Carolina

Multifamily Affordable Housing | May 22 2024

 Tower Capital has arranged a $19.1 million loan for the refinancing of the first phase of Poplin Glen, a 268-unit build-to-rent project in the Charlotte. The borrower was a real estate investment company headquartered in Arizona. The loan replaced a bridge loan that Tower Capital arranged in July 2021 to facilitate the acquisition of the townhomes at certificate of occupancy with the intention to lease all the units.

The initial phase of Poplin Glen comprises 99 units and was completed in 2021 and 2022. The community offers two-story, three-bedroom townhome units. Townhomes feature one-car attached garages and backyards. Phase two of Poplin Glen will deliver a further 70 units, while phase three will comprise 99 townhomes.

The sponsor plans to begin selling the individually platted homes in phase I to homeowners individually as units become vacant. The second and third phases will remain as rental units.

Read Full Article

more news & insights

Yield PRO| Jun 04 2024
Tower Capital Arranges $47 Million in Construction Financing for 217-Home BTR Community Village at Mayfair in Texas
ConnectCRE| Jun 04 2024
Empire Obtains $47.4M Loan for New Braunfels BTR Community
The Herald Zeitung| Jun 04 2024
Arizona developer to build 217 rental homes at New Braunfels' Mayfair
Multi-Housing News| Jun 05 2024
Empire Group Lands $47M for San Antonio BTR Project
1 2 3 33


15333 N. Pima Road
Suite 375
Scottsdale, AZ 85260
AZ CMB-0928926


2626 Cole Ave
Suite 300
Dallas, TX 75204

Los Angeles

1801 Century Park East
24th & 25th Floors
Los Angeles, CA 90067
CA DRE-02237859
Copyright © 2024 All Rights Reserved Tower Capital | Website Developed by Connect Creative
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram