Tower Capital closes $60.5M loan on Liv Goodyear
Tower Capital, Phoenix-based commercial real estate finance firm, has closed a $60.5 million acquisition loan for Liv Goodyear, a brand-new, Class A, multifamily apartment community.
Located at the southeast corner of West Virginia Avenue and 153rd Drive in one of the fastest-growing cities in Arizona, Liv Goodyear is a 326-unit institutional-quality apartment community offering cutting-edge amenities and meticulously groomed grounds.
“We’re thrilled to be part of a project like Liv Goodyear which is on the leading edge of modern, luxury apartment living,” said Vin Basa, vice president at Tower Capital.
Accessible via Interstate 10, Loop 303, Loop 101 and the upcoming Loop 202 South Mountain expansion, the apartment homes at Liv Goodyear offer nine-foot ceilings, beautifully appointed kitchens, wood-style plank flooring, spacious walk-in closets, and private patios or balconies.
Outdoors, residents can enjoy a resort-style saltwater pool and spa, barbecues, gaming and social areas, and a sand volleyball court. In the heart of the community is a resident clubhouse, a 24-hour, state-of- the-art fitness center, a tranquil community garden, playground, and splash pad, as well as the security of controlled access gated entry, covered parking and garages.
The deal at Liv Goodyear contributes to a record-breaking quarter for the company, which is on track to close $250 million during the final months of 2019. The company also broke its annual record, closing on more than $400 million this past year.
“Closing this loan has been a terrific capstone for 2019,” said Adam Finkel, principal at Tower Capital and member of Forbes’ Real Estate Council. “Our vision for the year ahead includes growing the firm, continuing to increase our market share, and most importantly offering expert service to our clients.”
The professionals at Tower Capital have a diverse background, having participated in almost every area of the commercial real estate industry including real estate brokerage, mortgage banking, securities, private lending, and development – across all real estate asset classes. The company was recently recognized by National Real Estate Investor as a ‘Top Financial Intermediary’ for total dollar volume of commercial real estate loans arranged.
Since 2015, Tower Capital has been involved in close to $1 billion in successful debt and equity placements on behalf of investors across all major asset classes.