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Building

Transaction Details

SFR Development Loan

 $23,700,000

Greensboro, North Carolina

  • Loan Amount: $23,700,000
  • LTC: 52%
  • Term: 24 Months

Transaction Overview

StackSource recently arranged a $24M single-family lot loan to develop 1,035 SFR lots on two separate parcels comprised of 307 acres. The developed lots will be sold to a national home builder who will build the townhomes and single-family homes on the lots. Senior Managing Director Beth Mercante arranged the 24-month loan term which includes a draw schedule and debt pay down with lot sales. The properties are located in the city of Greensboro, NC. The leverage for the first phase is close to 100% to allow the developer to complete the infrastructure and site work. Overall the leverage is 52% of the total horizontal development costs.

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.

Intermediaries Team

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