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
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.
Assets America® used one of its relationship funding partners, and its processing, underwriting and packaging expertise to very quickly secure and place into underwriting Phase 1 construction financing on this beautifully designed, $300 Million, live, work, play, ground-up construction project at current, private money 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.