Placed a revolving first mortgage construction loan to complete development of remaining 95 units in a 178-unit multi-family community located in Huntsville, AL
Challenges
In response to market demand and rents far above pro-forma for this innovative design, Client sought a larger, more flexible construction loan to accelerate development and build-out. An existing construction loan had to be replaced mid-stream with a facility that allowed collateral releases and pay downs to efficiently manage equity capital deployment.
