Transaction Details
Fix and Flip
$1,525,000
Belmont, MA
Fix and Flip
- Project Type: Fix and Flip
- LTV: 70%
- LTP: 91%
- Rate: 10.5%
- Term: 12 Months
Transaction Overview
62 Vernon Rd is a classic split-level ranch poised for a comprehensive renovation. Located in historic Belmont, MA, the sponsors plan to fully gut-renovate the existing structure while modernizing the home’s layout and functionality. The project will expand the living space into the currently unfinished basement and include a second-story addition above the garage to create a spacious primary suite. Upon completion, the renovation will nearly double the home’s livable square footage while adding two additional bedrooms and bathrooms, transforming the property into a larger, more contemporary residence while maintaining the character of the surrounding Belmont neighborhood.
The sponsors sought maximum leverage to efficiently execute their vision for the property, and Cardinal Capital delivered a financing solution tailored to those needs. The process was smooth and efficient from start to finish, with straightforward and competitive terms, a streamlined documentation and underwriting process, and clear communication throughout. Most importantly, there were no unexpected complications prior to closing, allowing the sponsors to move forward with confidence and focus on executing the project.
MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.
MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.
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