Nelson Funding recently closed a $3,605,000 construction loan for eight new luxury townhomes in Bellingham, Washington.
We funded 100% of the project cost, leverage most banks won’t offer on a for-sale townhome project. Bellingham’s housing supply is tight, and new townhomes fill the gap between condos and detached homes.
Transaction Highlights
- Loan Amount: $3,605,000
- Property Type: 8-unit luxury townhome project
- Location: Bellingham, WA (Whatcom County)
- Loan Purpose: Ground-up construction
- Leverage: 100% LTC
“Townhome projects work best when the builder isn’t raising equity for every unit,” said Dylan Nelson, Founder and President of Nelson Funding. “We set this one up so they could focus on building.”
Building in the Pacific Northwest? 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.
