The borrower has requested a $2,900,000 loan to purchase a beachfront lot in Belleair Shore, Florida, where they plan to build a modern luxury mansion. Bellaire Shores features a private, one-mile stretch of highly coveted oceanfront property. The borrower will secure a construction loan as an exit to the bridge.
Collateral:
Type: New Construction
Description:
Borrower requested a $425,000 loan to begin construction on a single-family property in Lakeland, Florida. The property will feature 4 beds and 3 baths at 3,727 sq/ft. The target sale price for the completed property is estimated $1.1 million.
- Loan Amount: $425,000
- Date: September 2024