Turning Early Progress into Usable Equity
Because the borrower had owned the land for over a year and completed demolition, we were able to credit that value toward the total project cost, improving the overall capital structure.
Borrower Profile:
Local developers in the Nashville market with over 10 years of experience and 25 completed townhomes and single-family homes in the past 18 months
Loan Details
Loan Size $5,727,378
LTV: 74%
LTC: 88%
Term: 14 month
Project Details
Location: Nashville, Tennessee
Type: Townhomes
Units: 6
Average Sale Price: $1.5M