The firm closed a record-breaking $70 million in the last 30 days, and is also on track to break an annual record.
Phoenix-based Tower Capital is seeing a surge in loan activity. The company has closed a record-breaking $70 million in deals in the last 30 days, and is on track to break an annual record as well. Tower closed a total of eight deals, including a $17.3 million 10-year loan for Resort on 35th Avenue with a 3.79% interest rate.
“Our strong activity over the past 30 days has been driven by robust investor demand coming to Phoenix from other markets, such as California and Denver, where cap rates and yields are much lower,” Kyle McDonough, principal at Tower Capital, tells GlobeSt.com. “Arizona is benefiting from some of the highest population growth in the nation, creating continued demand for housing and driving up rental rates and property values.”
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 $700 Million for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.