Borrower completed project and needed to refinance and increase bank loan to enable him to carry the loan for an additional 6-12 months.
Experienced Brooklyn developer required loan to finance the construction of a condo project. Loan is disbursed based on construction using external inspection company. Project is fully capitalized.
Value Add Multi Family Loan
experienced borrower purchased a multifamily portfolio. Needs a 12-month loan to upgrade the units, increase rent and refinance with a conventional bank.
Fix & Flip Loan
The borrower purchased a single-family home in Miami, spanning 2500 square feet with 4 bedrooms, situated on a 9000 square foot lot. The borrower needed to refinance the acquisition loan and secure additional funding for renovations. The loan is disbursed in parts based on the progress of the renovation.
Experienced real estate investors required a bridge loan to purchase two multi-family properties on one parcel. One property is a duplex that is currently fully rented. The sponsors plan to do light renovations on the second property and stabilize it.
Repeat sponsors and local real estate investors require a fix and flip loan on a distressed property. They plan to complete extensive renovation work to fully update the kitchen, all bathrooms, and replace the roof.