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: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
