Banyantree is a 232-unit multifamily property located in Phoenix, Arizona. The 3-story, garden style asset was built in 1972 and offers residents a mix of 3-bed, 2-bed, 1-bed, and studio units in a lushly landscaped setting.

The borrower is a family run investment company that owns and operates several thousand units throughout Arizona, California, and Texas and is a long-term, repeat client of Tower Capital.

The low leverage Freddie Mac Small Balance loan provides the borrower with a 7-year fixed rate term at a 5.08% interest rate. The borrower chose to pay off their existing agency loan early, despite having to pay a prepayment penalty, in order to lock in low rates today.