Borrower requested a $720,000 loan to refinance a new construction project in Pinellas Park,
Florida. The project features 8 townhomes, each 2 stories, 3 beds and 2.5 baths. Borrower plans to sell each townhome as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025