Nelson Funding is proud to announce the recent closing of a $18,925,000 construction loan in Surprise, Arizona. The loan was a combination of two loans to maximize proceeds for the borrower. The first loan consisted of recapitalizing phase 1 which consisting of 40 existing units and providing equity/cash out for phase 2. The second loan provided construction funds for phase 2 which is building an additional 32 townhome units. Surprise and the greater Phoenix area has a shortage of rentals available in the market. This loan will help provide attainable housing for the constrained market.
Nelson Funding is an expert in arranging and funding multifamily construction loans with expertise in both build for rent finance and for-sale products. Nelson Funding has a wide range of capital partners that provide our clients best-in-class leverage, pricing, and certainty of execution. If you are a builder or developer in need of construction financing, our team is ready to help secure the best debt terms for your project. Contact our team at 801-845-0092 or at loans@nelsonfunding.com
About Us:
Nelson Funding is a nationwide commercial loan broker and direct 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.