Despite volatility in the marketplace caused by the COVID-19 pandemic, Tower Capital, an independent structured finance firm, arranged two acquisition loans totaling $26,190,000 for multifamily properties in Phoenix.
Tower Capital arranged $21.5M for San Marina, a 400-unit, affordable housing apartment complex featuring gated access, a heated swimming pool, spa, basketball court, on-site laundry facility, and covered parking. The second acquisition loan, amounting to $4.69M, is for Arcadia Palms, a mid-century modern, 34-unit multifamily community located in the highly-coveted Arcadia submarket.
“Transactions are stalling in response to the coronavirus pandemic,” said Adam Finkel, principal, Tower Capital. “Thankfully, given our relationships and credibility with the lenders, we were able to successfully facilitate these two deals for our clients before a good portion of our economy was shut down.”
Tower Capital participates in almost every area of the commercial real estate industry including real estate brokerage, mortgage banking, securities, private lending, and development across all real estate asset classes. Since 2015, Tower Capital facilitated nearly $1 billion in successful debt and equity placements on behalf of investors.
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.