$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

Advisors

Justin Piasecki

President of George Smith Partners

Thomas Butler

Associate

Related Financings

Joint Venture Equity Partnership for Acquisition/Reposition of a 215-Unit Multifamily Property in a Southwestern State
View
Construction Loan for the Redevelopment of an 8-Unit/26 Bedroom Student Housing Community in Los Angeles, California
View
Acquisition Bridge Loan for a Newly Constructed 10-Unit Multifamily Property in Florida
View
Financing Placeholder
$23,500,000 Construction Financing for a 136,000 SF Industrial Park in a Southwestern State
View
Cash Neutral Refinance for Multifamily Property; Los Angeles, CA
View
Acquisition Financing for a 10-Acre Entitled Multifamily Site; Western State
View
$4,150,000 Acquisition Financing for Multi-Tenant Retail Center; Charlotte, SC
View
Bridge Financing for Cash-Out Refinance of a Special Purpose Property; Los Angeles, CA
View
Financing Placeholder
Land Financing for Entitled Land; Los Angeles, CA
View
Financing Placeholder
$38,500,000 Cash-Out Refinance of 98% Leased Grocery-Anchored Retail Center; Utah
View
Financing Placeholder
Unentitled Land Financing for Infill Multifamily Development; Los Angeles, CA
View
Financing Placeholder
$50,250,000 Acquisition Bridge Financing for a Multifamily Portfolio; Houston, Texas
View