High Leverage Ground-Up Construction to Perm Multifam Lender Active Nationwide!
One of the lenders that we’ve worked closely with over the years has told us that they’re pushing hard and getting a ton of deals out their door for ground-up multifamily construction.
A lot of construction lenders are, unfortunately, sitting on the side-lines at the moment waiting to see how the world looks post-COVID. However, as we all know, the world must go on and people need a place to live.
Enter this group. Not only are they actively lending ground-up construction funds, but they’re also going super high in the capital stack. They’re offering 80% LTC!
Keep reading because it gets even better, but I want to let that sink in…80% of your cost for ground-up construction during a nationwide pandemic that has really slowed down lending.
This group is currently chewing through deals and will lend nationwide (except for Los Angels and NYC, they want to wait and see what happens in those markets). But, let me stop pecking at my keyboard and get to the deal specifics that I know you want to know…
They’re looking for:
- Deal Sizes: $15M+
- No max!
- Rate
- L+800s
- Leverage
- Up to 80% LTC
- Term
- 3 – 5 years
- Non-Recourse
- With bad-boy carveouts
- Geographics
- Nationwide (minus LA & NYC)
One of the big things that we love about this group in addition to the fact that they’re providing construction financing is that they’re also perm debt providers! I told you it got better.
So not only can you get the funds you need for construction but you can roll it right into a perm loan in-house. This keeps everything streamlined and allows you to focus on your development project instead of bringing a new lender up to speed.
If you have a deal that fits the above criteria click here or shoot us an email at Justin@encapital.com and let’s chat today!
