$14,100,000 Horizontal Land Construction Financing for 98-Single Family Residential Lots; Homestead, Florida

Transaction Description:

George Smith Partners has secured $14,100,000 in funding in support of our Sponsor’s horizontal construction of 98-single-family lots in Homestead, FL. The allocated funds are intended to finance the essential infrastructure for the forthcoming single-family residential community. The lots will be sold in stages to a predetermined homebuilder. Our Sponsor has obtained a revolving loan of 60% LTC, which features a floating rate of Prime + 50, spanning a 24-month term.

  • Term: 2 Years with Extension Options
  • Rate: Prime + 50
  • LTC: 60%
  • Guaranty: Non-Recourse

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