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Deal Description
This deal was a great example of how when using creativity a borrower can really maximize on a given opportunity. We secured this high leverage construction loan for a active client of Kay Finance in the ground development space. They had purchased the land which over time had increased in value significantly. This loan was structured in way in which the sponsor was able to leverage their existing equity in the deal without having to come with any additional funds for the remainder of the construction build out.
Property Location
Covington, GA, USA
Quick Stats
Partner Type
Debt Fund
Program Type
Construction
Program details
- LTC: 85%
- Rate: 8.8%
- Term- 2+1 (Extension)
- IO Period - Full Term
- Recourse
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