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Tower Capital Arranges $59M in Refinancing for Apartment Asset in Goodyear, Arizona

Tower-Capital-Apts-Goodyear-AZ

Tower Capital arranged $59 million in refinancing for the apartment community in Goodyear, Ariz.

GOODYEAR, ARIZ. — Tower Capital has secured $59 million in refinancing for a Class A multifamily community located in Goodyear. The name of the borrower was not released.

Provided by a debt fund/life company, the loan features a 70 percent loan-to-value ratio and a 10-year fixed term with five years of interest-only payments followed by a 30-year amortization schedule. At the time of financing, the property was more than 96 percent occupied.

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