Tower Capital has secured a $51.5 million construction loan for a new Build-to-Rent (BTR) community in Phoenix, bringing their total financing for BTR developments to over $1 billion. The 190-unit development, managed by Zen Investing and 10Y, recently broke ground on a 12-acre site at the intersection of 83rd Avenue and Thomas Road.
Expected to be completed in October of 2025, Skyview by Zen will consist of two-story townhomes with an average size of 1,420 square feet. Each unit will feature two-car garages and various floor plans including three bedrooms with an office or dual-owner suites with multiple bathrooms.
Kyle McDonough and George Maravilla from Tower Capital arranged the financing on behalf of Zen Investing and 10Y without mentioning any specific company names or locations.
