Case Study: $36.5MM Multifamily Property | Construction | AL
Structured and placed a revolving first mortgage construction loan to complete the development of the remaining 220 units in a 398-unit multi-family community located in Huntsville, AL.
Client desired to accelerate completion of a large multi-phase development with a non-recourse high leverage revolver. Due to the modular nature of construction, special accommodations via working credit facilities would be required from a senior lender.
Identified a specialized lender experienced with a similar development strategy and product. Structured a non-recourse senior-secured revolving facility that also provided a working capital line, enabling the developer to seamlessly order and deliver houses to the site. Facilitated and managed a complicated closing process to avoid construction and delivery delays.