31 Jan 75% LTC Land Acquisition and Development Loan in Provo, Utah
Nelson Funding is pleased to announce the closing of a 75% LTV land acquisition and development loan in Provo, Utah. The Nelson Funding team was contacted by another broker who had a client requesting a bridge loan to finish the acquisition and predevelopment costs for a multifamily project in Provo, Utah. Nelson Funding quickly identified a local lender who is comfortable lending on land. The lender provided a 24 month land acquisition and development loan at 6.25% interest and 75% loan to cost. Nelson Funding’s lender was able to buyout existing partners who wished to exit the transaction along with providing funds to finish the predevelopment work. Nelson Funding is looking forward to arranging the future construction loan on the project.
For your next deal in Utah, let our team at Nelson Funding provide various financing options to help maximize your returns. Our team can guide you through the financing process and make it easy for you to focus on your business. With a team conveniently located in Salt Lake City, we have the market experience and knowledge to provide our clients the best financing terms possible.
Nelson Funding is a nationwide commercial loan broker and correspondent lender helping borrowers get the best 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. 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.