$6.8mm Multifamily Conversion Loan Closing

18 Jul $6.8mm Multifamily Conversion Loan Closing

Nelson Funding is proud to announce the recent closing of a $6,800,000 loan in Ogden, Utah. The loan proceeds will be used to convert a dilapidated motel into 109 affordable multifamily units in the fast growing Ogden, Utah metropolitan area. The borrower is experienced in converting hospitality into multifamily. The team at Nelson Funding is well versed in sourcing and finding senior debt for commercial real estate projects including hotel conversions to multifamily. Nelson Funding was able to structure high leverage senior debt allowing the borrower to complete the necessary renovations to complete the conversion.

Nelson Funding is an expert at arranging construction loans for land development, single family, multifamily, and commercial projects. With a wide capital base of banks, credit unions, life insurance, companies, private debt funds, hedge funds, family offices, and private investors the team at Nelson Funding has deep relationships and the ability to structure construction loans that work for our clients.

Nelson Funding is a nationwide commercial loan broker and correspondent lender helping borrowers get the best possible financing for their respective projects. Nelson Funding has provided financing for over 80 projects and placed more than $600mm of capital. Nelson Funding has the experience to get almost any project funded: from new construction to cash-out refinances, land development, and more. Nelson Funding specializes in construction funding, bridge funding, and conventional term financing products.

Nelson Funding remains committed to helping our clients secure the best financing for their respective commercial real estate projects despite a rising interest rate environment and tightening lending standards. With Nelson Funding’s capital market relationships and highly experienced team we are still placing high leverage debt for all deal types including land development, single family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis and more.

If you have a scenario you would like us to review, send us an email at loans@nelsonfunding.com or visit our webpage nelsonfunding.com.