Construction Financing

SandyMountains1

 

Location: Tecumseh, OK
Description: Multifamily developer required financing to continue with development schedule.
Investment Date: 2013
Opportunity: Ability to support developer’s growth strategy by providing bridge financing, until permanent project financing could be obtained, upon project completion.
Investment Thesis: Obtain first deed position on property worth 2.2X loan amount, with loan terms offering superior returns on invested capital.
Status/Results: Loan paid off upon project completion, resulting in mid teens IRR.