Financing Amount:
Capital Source:
Credit Union
Transaction Details:

Tower Capital recently arranged the refinance of the Alta Vista Shopping Center located in Phoenix, AZ. The project consist of a 47,000 sq. ft. multi-tenant, neighborhood, shopping center anchored by a Dollar General, along with a 16,000 sq. ft. self-storage facility containing 70 rentable units.

Tower Capital had previously arranged a bridge loan on behalf of the sponsor to recapitalize the project in order to provide additional funds for operations and towards property improvements. As the loan approached maturity, Tower’s client was ready to obtain permanent financing on the retail portion, while seeking a new bridge loan on the self-storage portion of the project as they move through entitlements to possibly expand and create additional storage space.

In order to meet the borrower’s objectives, Tower Capital secured a 10-year fixed rate loan with a local credit union at 5.75% and no prepayment penalty for the retail, and a 12-month, private money, bridge loan for the storage.

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
Copyright © 2024 All Rights Reserved Tower Capital | Website Developed by Connect Creative
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram