This is a $550,000 (52% LTV) refinance loan request secured by three Pinellas Park Townhomes, newly built. The three newly constructed townhomes are located at 62nd Way, Pinellas Park. These units are part of an eight-unit development built by the borrower, who also acted as the project’s developer. The anticipated loan payoff will come from the sale proceeds of the two remaining townhomes or the liquidation of other real estate assets.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
