Structured and placed a first mortgage construction loan to build an 84-Unit Built for Rent Community
Challenges
The Sponsor planned to construct a second built-for-rent community within the limits of a golf course in SC. While most of the surrounding properties are short-term rentals and hotels, the sponsor felt comfortable expanding his portfolio given an increased demand for long-term single-family rental properties. The client’s desire for a high levered non-recourse option disqualified traditional balance sheet lenders as viable options.
