Financing Amount:
Cash-Out Refinance
Capital Source:
Transaction Details:

Tower Capital recently secured an $11,130,000 loan on a 140-unit multifamily property located in Phoenix, Arizona. The borrower acquired the asset in 2015 and has since performed significant capital improvements which include a complete exterior facelift and HVAC upgrades. At the time of purchase, the property suffered from low rents and a sub-par tenant mix. Through intense efforts, the borrower replaced the majority of the tenants, increased rents, and raised NOI and value substantially.

The 66% LTV loan offers the borrower a 10-year term, fixed for the first 5 years at an exceptionally low rate of 3.125%. Unlike agency loans, the step-down prepay structures provides the borrower with additional flexibility should they wish to sell or refinance the asset during the loan term.

recent transactions


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
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