Multifamily Construction Loan – 200 Units (Phase-1 – 54 Units)
Financing Amount: $6,200,000 (Phase-1)
To finance a multifamily construction loan on a 200-Unit, 55+ Age Restricted Multifamily project located in a secondary market. Significant site work needed to be completed before the vertical building could be started. The borrowers/guarantors had been trying to obtain financing for several years prior to contacting Assets America®.
Within 5 months, Assets America® executed on a $6.2 Million, 18-month, multifamily construction loan facility along with a 30-month mini-perm at very favorable market rates.