Tower Capital and Affiliates is pleased to announce the successful capitalization of a 106-Key, limited service, hotel development for a major flag. The property is located in an opportunity zone adjacent to the Longbow Golf course in Mesa, AZ.  Tower Capital and Affiliates introduced its client, Concord Eastridge, to a joint-venture equity firm based in southern California, which resulted in $7.2 million of equity financing.  The capital allows the Sponsor to acquire the property, finalize construction drawings and prepare the site for vertical construction.  The limited partner equity placement was the first in this new relationship.

Tower Capital and Affiliates leveraged their industry expertise and extensive equity relationships to market the equity request effectively which resulted in a term sheet within one week of engagement.