Casa Sol is a 248-unit, garden-style, multifamily property located in Phoenix, Arizona. The property was originally built in 1985 and provides residents a choice of 11 different floor plans ranging from a 473 sq. ft. studio to a 1,192 sq. ft. three bed / one bath unit. The property rests on 7.87 acres and offers residents numerous amenities including a clubhouse, 2 swimming pools, 2 laundry facilities, and a playground.

A recent pullback in production from both Fannie Mae and Freddie Mac has forced borrowers to seek alternative sources of high leverage, non-recourse, permanent financing for multifamily properties. One of Tower Capital’s capital partners is currently offering a “Private Label” conduit product where they are both the originator, servicer, and B-piece buyer, offering a high level of execution certainty. The 10-year fixed rate loan provides a competitive 3.91% coupon and 3 years of interest only payments.