Scottsdale's Tower Capital Passes $1B in BTR Financing

For Tower Capital, the hits just keep coming. The Scottsdale company surpassed $1 billion in lending activity for the rapidly growing build-to-rent sector. The financings have helped developers add roughly 6,000 units across 35 communities across the Sunbelt.

The Phoenix Business Journal reports Tower Capital's $1 billion milestone was met after recently arranging $120.5 million in financing for two build-to-rent (BTR) luxury communities in Glendale and Peoria owned by Scottsdale-based Empire Group of Cos.

Phoenix and Dallas are currently the hottest BTR markets in the country , even as growth of this niche product has tapered off in some states.

Founded in 2015, Tower Capital provides customized structured financing to investors throughout the nation. It specializes in debt and equity placement ranging from $3 million to $300 million and has financed $3 billion for commercial real estate clients since its inception.

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.