October 22, 2015


Tower Capital closes two transactions in Scottsdale and Tucson

Once again showing its diversity across different markets and asset classes, Phoenix based structured finance firm, Tower Capital, recently arranged $12,209,000 in acquisition financing in two separate transactions. The first was on behalf of Caliber Companies, a full service real estate investment company headquartered in Scottsdale, Arizona. Caliber owns and operates a diverse real estate portfolio consisting of land, office, single family residential, and multifamily assets throughout the Phoenix metropolitan area. A sub-3% Freddie Mac loan was utilized to acquire the 144 unit GC Square Apartments, located near Grand Canyon University. The property sold for $6,465,000 or $38,945 per unit and was fully leased at the time of sale.

The second transaction was on behalf of a private investor to acquire the 267 key Hotel Tucson City Center near downtown Tucson. The $7,334,000 SBA loan represented 76% loan-to-value based upon the $9,650,000 purchase price.

Tower Capital is a boutique structured finance firm specializing in debt and equity placement on behalf of commercial real estate investors throughout the country. They offer borrowers short term bridge solutions through their in-house private lending platform, as well as conventional financing through their commercial mortgage brokerage division.