Mixed Use Development
$300 Million Mixed Use Development – Construction Loan: 725+ Multifamily Units above 125,000+ SQFT of Retail plus another 40,000+ SQFT of Office Space – Live, Work, Play, Ground-Up Construction Project
Challenge:
To secure construction financing for a multi-phase, mixed use project located in a secondary market in the Southeast. The sponsor is well heeled and very experienced, and this is the sponsor’s largest project to date. As you can see, this is a gorgeous project and very much needed in its specific location as there is a substantial lack of available multifamily units in the county.
Solution:
Assets America® shall use its banking and relationship funding partners, along with its processing, underwriting and packaging expertise to promptly secure and place into underwriting Phase One construction financing on this beautifully designed, $300 Million, live, work, play, ground-up construction project at current, market rates, customized specifically for the sponsor’s unique requirements. This multi-year, multi-phase project will result in final executions totaling three (3) phases with aggregate senior debt sufficient to build out the entire $300 Million project. Upon stabilization, Assets America® will take out the construction financing with permanent debt on each phase. This is a long-term, portfolio hold for this experienced sponsor.