Tower Capital recently secured a $2,000,000 loan for a 10,399 square foot office condo located in Tempe, AZ.  The property was acquired by the borrower in August 2018 who performed an extensive renovation and secured a local long term credit tenant.  The office condo has been completely remodeled with new flooring, office furniture, bathrooms and interior paint and décor. The property was 100% occupied at the time of the refinance.

The senior loan provides the borrower a 5-year term, fixed at 4.125%. The zero prepayment offers the borrower flexibility should they wish to sell or pull cash out of the property through an additional refinancing down the road.