Nelson Funding is proud to announce the successful closing of a $1,578,566 loan to facilitate the strategic repurposing of a 61-unit multifamily building in Tarboro, North Carolina. This transaction provides the essential capital needed to transform the asset, meeting the growing demand for quality housing in Edgecombe County.
As a leader in North Carolina private money loans, Nelson Funding delivered a financing package defined by certainty of execution and a highly competitive interest rate. This allowed the borrower to move forward with confidence, bypassing the delays and rigid requirements often found in traditional institutional lending.
Transaction Highlights
- Loan Amount: $1,578,566
- Property Type: 61-Unit Multifamily Building (Repurpose/Renovation)
- Location: Tarboro, NC
- Loan Purpose: Acquisition and Strategic Value-Add
- Key Financing Class: North Carolina bridge loans
Revitalizing Tarboro’s Housing Market
Tarboro is experiencing a surge in economic interest, particularly with the growth of logistics and industrial hubs in the surrounding region. Repurposing existing structures into modern multifamily housing is a critical component of the local development strategy.
By utilizing North Carolina construction loans specifically tailored for adaptive reuse and major renovations, the borrower was able to secure high-leverage debt that covers both the acquisition and the initial phases of the repurpose project. Our team focused on the project’s future stabilized value, providing a bridge to permanent financing once the units reach full occupancy.
“Providing capital for multifamily projects in secondary and tertiary markets like Tarboro is a core strength of our firm,” said Dylan Nelson, Founder and President of Nelson Funding. “This $1.5M+ closing demonstrates our ability to offer North Carolina homebuilder finance solutions that prioritize the sponsor’s vision. We are proud to provide the certainty of execution required to turn a transitional asset into a thriving residential community.”
Your Source for North Carolina Private Money Loans
Nelson Funding continues to be a go-to partner for developers seeking North Carolina construction loans and bridge debt. Whether you are building ground-up subdivisions or executing a complex multifamily repurpose, we offer the flexible underwriting you need to succeed.
Our North Carolina programs feature:
- Certainty of Execution: We close complex deals on time, every time.
- Competitive Rates: Market-leading interest rates for transitional and value-add assets.
- Bridge-to-Perm Strategies: Seamless transitions from North Carolina bridge loans to long-term stabilized debt.
- Regional Expertise: Deep understanding of the NC real estate landscape, from the Research Triangle to rural growth corridors.
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.
