George Smith Partners arranged a $20,000,000 revolving line of credit for a newly established Atlanta-based homebuilder. The financing supports acquisition of finished lots and for the vertical construction of homes in their designated markets, with flexible borrowing base structures accommodating finished lots, spec homes, and model homes.
Key Features
Revolving line of credit
Flexible borrowing base structure
Loan Terms
Rate
WSJ Prime + 2.50%
Term
Up to 36 months with extension options
Loan-to-Cost
75% LTC (finished lots); 100% LTC (sold, spec, model homes)
