Nelson Funding recently closed a $33,738,750 construction revolver to build 30 ultra-luxury single-family homes in Park City, Utah.
The loan funds phase two of an existing development. Because it’s a revolving facility, capital is drawn and paid down as homes are built and sold, so the builder keeps all 30 homes moving without a new loan for each one. Park City remains one of the strongest luxury home markets in the Mountain West.
Transaction Highlights
- Loan Amount: $33,738,750
- Property Type: 30 ultra-luxury single-family homes
- Location: Park City, UT (Summit County)
- Loan Purpose: Ground-up construction, phase two
- Structure: Revolving construction facility
“A project this size needs capital that keeps pace with the builder,” said Dylan Nelson, Founder and President of Nelson Funding. “The revolver lets them build and sell without waiting on us between homes.”
Planning a multi-home project in Utah? Contact Nelson Funding at 801-845-0092 or 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, from new construction to cash-out refinances, land development, and more. We specialize in construction funding, bridge funding, and conventional term financing.
With deep capital-market relationships and an experienced team, Nelson Funding places high-leverage debt across all deal types, including land development, single-family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis, and more.
