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Land Refinance

718 North St, Mansfield

Loan Amount

$2,000,000

Deal Description

The Sponsor on this transaction has been a client of the firm for many years. He recently purchased a piece of land in Mansfield, TX - all cash - with plans on developing a 200+ unit Multi Family community on site. Kay Finance successfully secured a local bank that strategically refinanced the land - repaying a portion of the original vested equity - while offering a soft commitment to provide constuction financing over the next 12 months subject to the developer receiving the appropriate permits and entitlements.



Property Location

718 North St, Mansfield

 Quick Stats 
Partner Type

Bank

Program Type

Refinance

Program details

50% LTV
24 month term
interest only
Recourse
45 day close

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