November 22, 2024 2:06 am
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Tower Capital arranges $20.1M for Home 2 Suites development in Mesa

AZRE | AZBigMedia

Tower Capital, an independent structured finance firm, successfully arranged $20,121,000 in development financing for a Home2 Suites by Hilton in Mesa, Arizona. This deal puts Tower Capital at nearly $200 million in arranged financing for Q1 this year, marking the company’s most successful first quarter since its inception in 2015.

The 111-key hotel property will be four stories tall and sit on the 18th hole of the Longbow Golf Course near the Loop 202 and Recker Road in Mesa’s Falcon District. The area is home to 671 companies in the technology, manufacturing and aviation industries that employ more than 20,000 people.

“The location of this hotel is pivotal,” said Kyle McDonough, principal at Tower Capital. “The growth in this opportunity zone is accelerating and we look forward to watch it all unfold.”

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