- Loan Amount * $550,000
- Collateral Valuation * $950,000
- Term *12 months, First Lien, IO
Our Borrower acquired a multi-family lot in a 1031 exchange. He diligently worked on the entitlements and permitting of a 6-unit apartment building. Commercial construction with traditional banks is time-consuming and tedious. Once he was ready to build, he came to us for a quick close. Our Borrower is an experienced project manager for a local construction firm providing the necessary experience for an owner-builder project. Institutional financing is the exit plan from this loan.
“ReProp financial financed my construction project quickly and transparently. Thanks to their straight dealing and simple documentation, Leach Construction completed six new housing units before the weather turned”
– C Leach