11 Jan Nelson Funding Closes $7,325,000 Land Bridge Loan in Heber, Utah
We are pleased to announce the recent closing of a $7,325,000 land bridge loan in Heber, Utah. Our team was approached by one of our capital partners looking to exit one of their positions in the Utah market. We immediately got to work using our expansive capital base of land bridge providers to identify a local fund comfortable with land bridge loans. Our team was able to secure competitive terms at 12% interest with a low LTV. A quick closing was arranged and a successful closing took place.
The collateral encompasses over 150 housing units in a highly constrained housing market in Heber, Utah. The collateral will end up being sold off to respective single family builders in the area.
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.
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