Financing Amount:
Ground Up Development
Capital Source:
Institutional Private Equity
Transaction Details:

PHOENIX, April, 2021 – Tower Capital arranged a programmatic joint venture with an institutional private equity firm, which resulted in $22 million in financing for a townhome rental development, TOWN on Germann.  This is the 2nd of 3 financings that are part of a $50M programmatic joint venture that Tower arranged.

TOWN Germann will consist of 207-unit townhomes on a 14.50-acre site in Gilbert, Arizona.  The site benefits from its close proximity to several major freeways and major employer such as Intel, Wells Fargo PayPal, Northrop Grumman and General Motors Financial.  The two- and three-bedroom homes will include a two-car attached garage, two bathrooms, a powder room and convenient in-unit laundry rooms.  Each unit will also feature bright kitchens with granite countertops, plentiful cabinets, handsome flooring and upgraded fixtures.  Each home at TOWN on Germann also includes a private courtyard and viewing decks that is perfect for pets, barbeques and enjoying the outdoors along with a couple of viewing decks.

Designed for move-down baby-boomers and move-up millennials, the 2 & 3 bedroom townhomes at TOWN on Germann will be positioned at attainable monthly lease rates.

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