Financing Amount:
Capital Source:
Non-Bank Lender
Transaction Details:

Tower Capital recently facilitated $7,510,760 (85% LTC) in non-recourse construction financing for the development of a 20-unit, 3-story for-sale townhome community in an infill neighborhood in Phoenix, AZ.  Eighteen of the 20 proposed townhomes will contain three bedrooms and three bathrooms with an attached garage on the ground floor.  Two of the units will contain two bedrooms with a den and two and one-half bathrooms.  Sixteen units will have two-car garages and four will have a single-car garage.  All units will have a rooftop deck which is a unique amenity for homes in this submarket.  The proposed 3BD/3BA townhome units will range in size from 2,104 – 2,208 square feet, with an average of 2,143 square feet.  Tower leveraged its diverse lender relationships to source a stretch senior construction loan for a unique product in an up and coming neighborhood.  Tower’s capital source understood the long term growth of the submarket which has good access and many demand drivers.  Tower Capital was able to source multiple non-recourse construction loan options to meet the borrower’s goals and objectives.

recent transactions


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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