Kushner’s Post

W&D Secures $110M Construction Loan for BK Multifamily Development Read the full article below..

Fident Capital secured $6.2MM of construction financing for the development of three, 3-story, single-family residences in the Pacific Beach submarket of San Diego, California. A national private lender provided the 80% LTC financing with a favorable rate floor and quick closing process. Project Highlights: •The borrower’s election to exercise that option streamlined the entire process, leading to a closing in less than 90 days from the start of efforts. •During due diligence, a residual land valuation analysis supported an increase in loan proceeds while maintaining the lender's LTC/LTV thresholds, reducing the borrower’s equity need for the vertical build. •The client’s recent rehabilitation and sale of an adjacent historic property further supported the project’s terminal value in a market with few luxury comparables. Challenges: •Increase in project costs necessitated a rebalancing of debt and equity contributions. •Lack of new home sales in a highly desirable beach submarket required additional market research to ensure the project's viability. •The perceived pressure on potential residential buyers due to the rising interest rate environment needed to be addressed. #sandiego #singlefamily #commercialrealestate #pacificbeach

Veteran Housing Corp applauds your past efforts but would challenge each and every local, state, and federal housing agency or affordable housing developer to do better in 2024 and beyond. Demand permanent affordability in all projects receiving government funding, subsidies, tax credits, or incentives! Veteran Housing Corp would also ask three questions about the housing projects you support or are involved with: 1. How much funding, federal tax credits, or government benefits or incentives from all government sources did the projects receive? 2. What is the affordability period for each project? 3. What guarantees exist that tenants will not be displaced after the "affordability period expires? Every local, state, and federal housing authority and affordable or workforce housing stakeholder should adopt the State of Vermont's "permanent affordability" policy as a model for all future government funded or subsidized housing projects or developments, no exceptions! https://lnkd.in/eFEUC8c8

We recently funded a multifamily construction loan in Gervais, Oregon. This loan will finance the construction of much-needed apartments in an underserved area. The development includes two fourplexes for a total of eight units. The client is an experienced builder and developer who tried to work with a local credit union for the construction financing, but struggled with the cumbersome process of a traditional commercial construction loan. He wanted something more streamlined that could help him move quickly without delays caused by paperwork and bureaucracy. We were able to close on his multifamily construction loan in less than two weeks so he could focus on what he does best: building. See more on this recent project here ---> https://lnkd.in/g33BTHUM #cetanfunds #newconstruction #newbuild #homebuild #hardmoney #spechome #privatemoney #hardmoneylending #privatemoneylending #realestate #oregonrealestate #realestateinvesting #residentialrealestate #commercialrealestate

Harlem Apartment Tower Secures $210 Million Construction Loan Read the full article below..

"Secured Takeout Loan for Newly Constructed La Jolla Apartments" Read the full article below..

Petros was proud to provide $27 million in C-PACE financing to this innovative multifamily new construction project in downtown Chicago — the largest C-PACE deal in Chicago — read the Commercial Observer story below to learn how Petros was able to get it done despite a “continually evolving market.” #cpace #financingthewayforward

Deal or no deal? While there's cautious optimism in the market due to anticipated Federal rate cuts, construction financing still remains a challenge. Cymbal DLT's Asi Cymbal comments, “We’re not out of the woods yet, but for the first time in a while I’ve heard an eagerness to get back into the market." The firm plans to pursue construction financing later this year after breaking ground on the Nautico District, a $1.5 billion multi-phased, mixed-use development on Fort Lauderdale's riverfront with multifamily, hotel, condo and retail components. Read more in The Real Deal South Florida's latest by Katherine Kallergis on the current state of construction lending. https://bit.ly/3S3bfIb

We have recently sourced debt on the following deals: LA Hotel Construction $21.45M (Bank - Prime + 30bps) LA Multifamily Refi $4.5M (CMBS - 5 year + 199bps) LA Multifamily Refi $2.1M (Private Lender - 5 year + 238bps) LA Multifamily Refi $28.72M (Agency & CMBS - 5year + 140-220bps (depending on leverage)) TX Hotel to MF Conversion $4M (Private Lender) TX Land Purchase $3.25M (Bank - Prime) TX Multifamily Construction $30M (Debt Fund – SOFR Based Floating) TX SF Subdivision Lot Development $17M (Bank – Prime + 1%) TX Land Refinance $5M (Bank - Prime) TX Preferred Equity for Multifamily Construction $8M (Private Equity Group) TX Land Refinance $6M (Bank – Prime) TX Office Construction $3.2M (SBA) OK Multifamily Construction $13M – (Debt Fund – SOFR Based Floating) AZ Multifamily Construction $60M (Debt Fund - SOFR Based Floating) Still a tough market, but we are bringing in competitive terms for our clients. Reach out with anything you might need help with. Marigny@atlasCREcapital.com

CLS CRE recently put under application a $1,750,000 loan on a newly constructed Multifamily building located in Los Angeles, CA. Our Borrower has lots of experience in the 1–4-unit space and recently pivoted towards multifamily projects. The current lender offered a construction to permanent financing program in one loan and we were able to outperform the incumbent lender with a lower interest rate and higher proceeds. We did this just after our Borrower received their Certificate Of Occupancy at an aggressive 6.50% interest rate over a 30-year amortization. CLS CRE’s commitment to supporting multifamily developers and their construction and permanent financing remains unwavering.  #Multifamily #NewConstruction #ConstructionFinancing #UnderApplication #LosAngeles #STNL #SuccessStory #SmartInvesting #CommercialRealEstateFinance #FinancialStrategy #CommercialRealEstate #FinancialInsights #CommercialRealEstate #Realestate #CLSCRE #RealestateInvesting #CommercialProperty #Industrial #Multifamily #STNL #Retail #InvestmentProperty #IncomeProperty #Finance #1031Exchange #LifeInsuranceCompany #CRE #CLSCRE