Financing Amount:
Phoenix, AZ
Capital Source:
Fannie Mae
Transaction Details:

Tower Capital recently secured a $6,250,000 loan on a 95- unit multifamily property in Phoenix, AZ.  The borrower acquired the asset in 2014 and has since performed significant capital improvements which include a complete exterior and HVAC upgrades. The business plan was successful and the borrower was able to generate a much higher NOI and value over the years.

The 55% LTV loan offers the borrower with a non-recourse 10-year fixed term, interest only for 10 years, at a low rate of 3.09%. The borrower had prepayment sensitivity with his current lender and we were able to rate lock 40 days before closing so the borrower could preserve his rate and not pay a substantial penalty.

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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