Gran Limon is a 24 unit multifamily property located in Tempe, Arizona. Originally constructed in 1961, the borrower purchased the asset in 2013 and performed a major interior and exterior renovation, allowing him to substantially raise rents and increase the value of the property.

Tower Capital secured a $1.4 million non-recourse loan through a local bank, which returned 100% of the borrower’s equity plus some additional cash out.