This request represents a $2.3 million new-construction loan, with $340,000 to be funded at closing and a $1,960,000 construction holdback, secured by the Townhomes. The borrower’s primary exit strategy remains the retail sale of all units upon completion.
Collateral:
Type: Fix and Lease
Description:
This is a $400,000 loan secured by two single-family homes located in Clearwater, Florida. The home is a two-story property featuring four bedrooms, two bathrooms, and a two-car garage, situated on a 0.18-acre lot. The exit strategy is to refinance into a DSCR loan upon completion of renovations and stabilization.
- Loan Amount: $400,000
- Date: April 2026
