Financing Amount:
Cash-out Refinance
Capital Source:
Freddie Mac
Transaction Details:

Emerald Shores Apartments is a 304 unit multifamily property located in Phoenix, Arizona. Tower Capital’s client, an experienced Los Angeles-based investor, acquired the property in October 2014 from a non-profit organization who was not maximizing the profitability of the asset. Through a reduction in operating expenses and an increase in rents, Tower’s client increased the Net Operating Income and value of the property substantially over a 24 month period.

The $10,720,000 Freddie Mac loan secured by Tower Capital provided the borrower with over $5 million of cash out after all financing costs were paid. The proceeds were used to pay off the existing acquisition loan, provide a return of equity back to the borrower’s investors, provide funds for upcoming capital improvements, as well as down payment money for additional investment opportunities.

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


2626 Cole Ave
Suite 300
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Los Angeles

1801 Century Park East
24th & 25th Floors
Los Angeles, CA 90067
CA DRE-02237859
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