Tower Capital arranged $79.5 million to refinance an existing loan for the Village at Bronco Trail, a 354-unit BTR community at 29th Ave. and Sonoran Desert Dr. in the Phoenix market. The sponsor, Empire Group, commenced construction on the project in 2023 and will deliver units later this year. Tower Capital’s Kyle McDonough, George Maravilla, David Stull, and Noah Schott originated the non-recourse construction financing via a debt fund.
Kyle McDonough added, “The refinance of an existing construction loan will provide the capital Empire Group needs to bring the Village at Bronco Trail to fruition. This is the 16th project we’ve arranged financing for Empire Group in the past several years.”
Amenities will include detached garages and private yards, a fitness center, a car wash station, a playground, a dog park, a grilling area, a pool, a clubhouse, and common area open spaces.
Tower Capital has capitalized more than $2.4 billion, primarily in construction financing, for build-to-rent projects.
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