28 Jul $6,815,532 Loan Closing In Manchester, CT
The Nelson Funding team is pleased to announce the recent closing of a $6,815,532 construction loan in Manchester, Connecticut. The loan proceeds will be used to develop 37 townhome lots and then go vertical on all 37 townhome units. The loan represents a 84% LTC at an 7.99% interest rate. Nelson Funding was able to leverage a wholesale lending relationship which provided a quick term sheet and great pricing to help expedite the development process. The townhomes will help alleviate the current housing deficit in the Manchester, Connecticut market.
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.
Next time you need a single family construction or development loan in the growing Manchester, Connecticut commercial real estate market, call the experienced team at Nelson Funding. Our team will happily review your commercial real estate project and quickly identify the best capital solutions for your development. If you have a scenario you would like us to review, send us an email at email@example.com or visit our webpage nelsonfunding.com.
Nelson Funding remains committed to helping our clients secure the best financing for their Manchester, Connecticut area 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.