Borrower requested a $725,000 loan to purchase a single-family property in Fort Myers, Florida that sits on 7 cores. Additionally, the borrower is collateralizing a free and clear duplex also in Fort Myers. The single family, 7 Gore property was purchased for $700,000 and the borrower has a $43,000 construction budget planned. The property features 3 beds and 3 baths at 1,910 sq/ft. The 2nd place of collateral was purchased in 2014 and has since been fully remodeled, and is now tenant occupied ($330,000 estimated value).
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
