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Transaction Details

Oahu, HI property
Oahu, HI property

SFR Development

$4,600,000

Oahu, HI

SFR Development

  • Project Type: SFR Development
  • LTC: 87%
  • LTARV: 70%
  • Term: 18 Months + Optional Extension
  • Rate: 10.25%
  • Guaranty: Recourse

Transaction Overview

Max Benjamin Partners successfully arranged $4.6 million in construction financing for a ground-up speculative single-family residential development located on Ikeanani Drive in Kaneohe, along Oahu’s highly desirable Windward Coast. The financing retired the property’s existing land debt while providing the construction capital required to commence the first phase of a planned multi-phase residential development.

The transaction presented several notable underwriting considerations, including the sponsor’s first ground-up speculative single-family development and first project in Hawaii. MBP strategically positioned the opportunity around the sponsor’s meaningful existing equity investment, the quality of the underlying real estate, and the compelling supply-and-demand fundamentals within the surrounding market. Leveraging its national lender relationships, MBP identified an institutional-quality capital partner capable of recognizing both the project’s value and the sponsor’s broader execution capabilities.

Kaneohe and the greater Windward region remain among Hawaii’s most supply-constrained residential markets, with limited developable land and a lengthy entitlement process creating significant barriers to new construction. These dynamics make well-located housing development exceptionally rare and support premium pricing for thoughtfully designed new homes. By securing a financing structure that recognized the sponsor’s invested equity and fully funded the project’s initial construction phase, MBP provided the capital necessary to launch the development and establish a foundation for its future phases.

This closing demonstrates MBP’s ability to navigate first-time market entry, limited comparable development activity, and complex construction underwriting to deliver tailored financing for high-quality residential projects in markets with significant barriers to entry.

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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