Media Coverage

San Diego-based Tower 16 Capital Partners has closed on a refinancing deal for its multifamily portfolio with fixed-rate loans. The deal covers more than 1000 units across the two states. "This will further de-risk our projects by extending our maturity schedule, reducing debt service and fixing the interest rate for five years," said Mike Farley, co-founder.

Multifamily investment firm SB Real Estate Partners (SBREP) continues to bet on the Phoenix market for its strong fundamentals. Its latest acquisition is Cantamar Apartments, a 180-unit garden-style apartment community in Glendale, Arizona, for $58.1 million.

Tower 16 Capital Partners and Raith Capital Partners acquire 216-unit apartment community for well below today’s replacement rate. The partnership plans to invest $1 million in updates and rebrand to Obsidian on Glendale.

“We are thrilled to add Copper Point to our expanding portfolio,” said Robert Ireland, CRA’s Managing Director of Investments. “This investment aligns with our Vital Collection investment strategy, which provides quality housing at an affordable price. We look forward to executing our business plan and delivering an exceptional community to current and future residents at Copper Point.”

A total of 228 single-family homes making up the Brookside and Laurelwood developments are being built by San Joaquin Valley Homes. The homes start in the low $350,000's at Brookside and the low 400,000's at Laurelwood.

Continental Realty Group, a Denver-based multifamily owner and operator, purchases the 107-unit Copper Point Apartments. This marks the fifth acquisition for CRA in the Phoenix market since 2016.