LFB Ventures’ Post

Development Centurion JV Secures $171M Loan for Upper West Side Condo Development Read the full article below..

Newmark has secured a $240M construction loan for Casa Bella, a stunning 56-story condo located in Miami's vibrant Arts & Entertainment District. This achievement is particularly noteworthy considering the current challenges faced by developers in obtaining mortgages. The financing was arranged by Newmark's Co-Presidents of Debt & Structured Finance, Jordan Roeschlaub and Dustin Stolly, along with Executive Managing Director Nick Scribani and Analyst Holden Witkoff. Read the full South Florida Business Journal article to learn more. #Newmark #CRE #Multifamily #MultifamilyCapitalMarkets #Financing #MiamiRealEstate #MiamiCRE #CommercialRealEstate

I have just received an enquiry for 2 flats in a high-rise block close to Primrose Hill which are let as an HMO. Financing ex-local authority flats (previously council-owned properties) can be somewhat difficult due to specific considerations, the first is the construction of the block which is concrete, this will automatically exclude many lenders, as many of 1960s-style blocks are built from concrete. Not all lenders consider lending on blocks which are 20 stories high, they reconsider the resale to be difficult should they have to take possession. Most lenders also insist that the block be mostly privately owned, when the flats are in a prime location then often the residents have been unable to afford the Right to Buy, even with the discount offered the property was still expensive, this was the case with this block with the majority still owned by the local authority. There has also been a raft of new fire safety regulations since Grenfell which affects high-rise blocks and lenders will expect the work to have been completed on these blocks before completion of the loan. In this instance, I had the added challenge of the property being a House in Multiple Occupation. Bizarrely I love enquires like this, I can help the client, lower the cost of the finance they currently have but also help the client raise additional funds for a new property investment. The client is grateful for the help and I enjoyed the challenge.

Lightstone Secures $166 Million Refinancing for Gowanus Rental Property Read the full article below..

Our team recently closed another multifamily bridge loan which will help our client conduct major interior and exterior property enhancements. The 18-month fixed loan provides enough time for our borrower to improve property revenue and perm out this loan in a more favorable rate environment. The loan was structured at 77% LTV and no prepay penalty, with the borrower self-funding capital improvements and interest carry. Bridge products can still make a lot of sense for apartment deals as cap rates widen and interest rates contract. Special thanks to Sean Farag and MBI Equity Partners for your help in making this happen! #capitalmarkets #CBRE #debtandstructuredfinance #multifamily #bridgeloan #agencylending #realestate #realtor #developers #CRE #CREfinance #fixnflip #purchaseloan #refinance #commercialrealestate #mortgagebroker #closeddeal #capitalmarkets #1031exchange #investmentproperty #investmentrealestate #cashoutrefi #money #commercialloan #constructionloan

Want to turn that rundown multifamily property into a stunning investment? Explore the world of rehab loans for multifamily units and make your real estate dreams a reality! With the right financing, you can transform dated units into modern living spaces that attract top tenants and maximize your rental income. Don't miss out on this opportunity to revamp your property portfolio – reach out today to learn more about rehab loans for multifamily units! Call 888.848.3114 now! . . . . . #realestate #realestateagent #realestateexpert #realestateassociatebroker #realestateinvestor #realestateinvesting #realestatelife #realestateforsale #realtor #realestatetips #brokerage #realty #luxuryliving #luxuryrealestate #makethemove #investmentproperty #mansion #broker #realtorlife #housegoals #realestatetips #toprealtor

📈 TENANT TUESDAY 📈 Leasing FAQs As a REALTOR who does many leases, here are the answers to some of the most frequently asked leasing questions - in under 60 seconds! Have any more questions about leasing? DM me and let's chat! ______________________________ #realestate #torontorealestate #gtarealestate #realtor #tenant #leasing #rent #landlord #eviction #realestateinvesting #investing #toronto #mississauga #bolton #vaughan #gta

My first flip project with a JV partner, purchased using a mix of investors’ funds and a bridging loan. Project Grosvenor 2-bed bungalow in NE33 **Purchase Price:** £145,000 **Refurb:** £25,000 **Sold for:** £209,000 **Builders on the project:** 3 🤦🏻♀️ **Sleepless nights:** 357 😂 **Swear words learnt during the process:** 874,626 🤬 Starting a new project is exciting, but things often don’t go as planned, which can be beyond our control. Challenges began during refurbishment; our builder disappeared, and the replacement wasn’t better. We did the work ourselves, focusing on every detail to enhance the property. It saved us money (not paying full builder fees) but cost us time. We sold the bungalow three times, but each buyer withdrew after weeks in legal. No issues with the property; they changed their minds or couldn’t secure funding. Facing the end of our bridging loan, we switched to a Buy-to-Let mortgage and rented it out. While not ideal for a high-standard flip, the rental income covered the mortgage and with the equity released we paid back our investors. The project lasted 24 months from purchase to sale, bringing with it sleepless nights, a steep learning curve, and a valuable experience. Looking at the positives, I didn’t lose any money, and now my JV partner and I laugh when we remember the experience. Sometimes adversity is what you need to face in order to become successful. ✅ Save ✅ Like ✅ Share your experience ✅ Reach out to discover our property investment opportunities in the North East . . . #flip #ukpropertyinvestor #ukpropertymarket #propertyinvestment #ukproperty #propertyuk #ukpropertybusiness

DONE DEAL 💸 We are pleased to announce the successful completion of a bridging loan for a mixed-use freehold building in Brighton, a transaction that posed several unique challenges. Property Details 🏢 The property, situated in a prime location in Brighton, consists of ground-floor retail space, while the upper floors are designated as C3 residential units. The building was valued at £1.175m and purchased below market value at £845,000 in a non-arm’s length transaction. We managed to get the lender to lend 75% LTV off the £1.175m. Challenges and Solutions ✅ One of the primary hurdles was the limited timeframe, with only four weeks to close the loan. The holiday let restriction on the upper floors further complicated matters, as it excluded many conventional lenders from the equation. Despite these challenges, we were able to leverage our industry connections and deep understanding of complex transactions to secure the necessary financing. Ready to take on your next project? Send us a message to speak to our Funding Specialists today. #property #propertydevelopment #propertydeveloper #bridgingloan #bridgingfinance

Have you heard the term “fix and flip” but aren’t sure what it means? Let’s break it down! “Fix and flip” has two meanings: it is both a real estate investment strategy and a type of loan. The strategy: This involves buying a property, renovating it to improve its condition and value, and then selling it for a profit. Investors often target properties that need some work (think outdated kitchens or bathrooms) and can be purchased at a discount, then they improve them and sell for a profit. The loan: Fix and flip loans are short-term financing options specifically designed for this strategy. They allow investors to cover the purchase price and renovation costs. But (and this is important), qualifying for these loans might require experience and a solid business plan. A common rule of thumb for fix and flip situations: Investors shouldn’t pay more than 70% of a property’s after-repair value (ARV) minus the renovation costs. ARV is basically what the property is expected to sell for after it’s been fixed up. Thinking about flipping houses? Let’s chat! #REMAX #REMAXWELCOMEHOME #MICHELLERIZZO #LISTINGAGENT #SELLERAGENT #HOUSEFLIP