Closing Announcement: Successful Financing of Phase One of 35-Unit Single Family Attached Development in Denver, CO
We are thrilled to announce the successful closing of the first phase of a 35-unit single family attached development in Denver, Colorado. This achievement comes through the strategic use of home builder finance solutions, utilizing both single family construction lending and private construction lending to meet the unique challenges of this project.
Deal Highlights:
- Loan Amount: $19,492,915 construction loan
- Loan-to-Cost (LTC): 75% LTC
- Project: 35-unit single family attached development in Denver, CO
- Challenging Scenario: Property in foreclosure
- Lender: Private construction lending partners
- Loan Type: Tailored single family construction lending for residential development
- Location: Prime area in Denver, CO, meeting the demand for high-quality homes
- Phase One: Successful closing for the initial phase of construction, setting the foundation for future growth
This development has overcome significant challenges, including working with a borrower previously in foreclosure. By leveraging private construction lending solutions, we were able to structure a flexible and effective financing package that supports the project’s needs. With the 75% LTC loan in place, phase one is now underway, and the development is poised to meet the rising demand for quality housing in Denver.
We look forward to seeing this project progress and contribute to the local community. Stay tuned for updates as we continue to move forward with the next phases of this exciting development. For more information on home builder finance, single family construction lending, and private construction lending, contact our team today.
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.
