21 Unit Multifamily Ground Up Construction
Transaction
Ground-up construction loan for a 21 unit multifamily project in the Hillcrest area of San Diego CA.
Product(s)
Pre-construction financial modeling services, 24 month conventional bank construction loan.
Challenge(s)
- No recent multifamily or commercial construction experience
- HVCRE component
- Owner Builder and acting GC
The Result
Our team was able to identify and inject additional capital from the sponsors portfolio strengthening the cash injection requirement. Our financial modeling services provided high level projections and financial reporting which increased our regional bank partners comfort level in dealing with the HVCRE aspect. We were able to mitigate the project challenges and deliver at market terms to our client.
