Brighton Place is an 80-unit apartment project located at 222 East Cody Drive in Phoenix, AZ. The property was acquired for $5.25 million or $65,625/unit by an experienced, Los Angeles-based investor, with multifamily holdings throughout the southwestern United States.  The new owner will put into place a modest capital improvement plan to help push rents and increase Net Operating Income.

The 15-year loan arranged by Tower Capital offers a competitive fixed interest rate and provides the borrower with he flexibility of an open prepay, should they choose to sell the property or refinance during the term of the loan.