Phoenix-based structured finance firm, Tower Capital, recently arranged a $4,875,000 acquisition loan on behalf of Caliber Companies, a full service real estate investment company, to acquire the 144-unit GC Square Apartments.
The property sold for $6,465,000 or $38,945 per unit and was fully leased at the time of sale. The property was financed with a non-recourse Freddie Mac loan at a sub-3% interest rate.
Tower Capital is a 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 effectuating conventional financing through their commercial mortgage brokerage division.
Caliber Companies owns and operates several hotel and multifamily assets throughout the Phoenix metropolitan area.