Structured and placed a revolving first mortgage construction loan for the development of a 110-building, 224-unit Build for Rent community located in Lebanon, TN.
Challenges
Client sought flexible construction financing adapted to an innovative development concept using modular housing deployment.
Solutions
Structured a secured, synthetic line of credit within the framework of a traditional construction financing. The hybrid structure allows draws to fund off-site factory production and additional funding upon attachment / hook-up to the real property. Flexible pay-off provisions enable early, partial loan retirement via bridge-to-agency or permanent finance take-outs.
