PHOENIX — Tower Capital has arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit build-to-rent (BTR) community in Phoenix. The sponsor, Scottsdale, Ariz.-based Empire Group, started construction on the project in 2023. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the nonrecourse construction financing via a debt fund.
Situated on 30 acres at 28th Avenue and Sonoran Desert Drive, Village of Bronco Trail will offer one-, two- and three-bedroom units with floor plans averaging 923 square feet. Each home will offer a private yard, kitchen with quartz countertops, stainless steel appliances and backsplashes, full-size washers/dryers and upgraded smart-home features and technology. Community amenities will include detached garages, a fitness center, car wash station, playground, dog park, grilling area, resort-style pool, clubhouse and common area open spaces.