Nelson Funding Closes $1,965,200 Multifamily Loan in Vernal, Utah

Multifamily Acquisition

Nelson Funding Closes $1,965,200 Multifamily Loan in Vernal, Utah

Nelson Funding is pleased to announce the recent closing of a $1,965,200 multifamily loan in Vernal, Utah. The team at Nelson Funding was approached by a repeat referring partner who had a borrower acquiring a 32 unit multifamily property in Vernal who was seeking attractive terms and a high probability of closing. Nelson Funding quickly identified a strong local credit union who provided attractive terms at 75% leverage at 4.25% interest with a 15 year term (5yr initial fix) and 30 year amortization. The financing was approved quickly and the closing was arranged shortly thereafter. The property had strong existing cash flows and a healthy rent roll which made for a seamless process. Some lenders have issues with the rural nature of Vernal, but Nelson Funding made sure that was not an issue upfront.

 

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 competitive multifamily loan in the Vernal, Utah 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 loans@nelsonfunding.com or visit our webpage nelsonfunding.com.

 

Nelson Funding remains committed to helping our clients secure the best financing for their Vernal, Utah 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

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