Nelson Funding recently closed a $4,536,628 construction loan for two luxury single-family residences in Longboat Key, Florida. The facility funded at 90% loan-to-cost for a repeat borrower, keeping the developer’s cash free for their next deal.
Land and build costs on Longboat Key are steep, so 90% LTC is a real advantage. We underwrote the finished value of the homes and to a sponsor we’d backed before, which is what it takes to build confidently in a market this tight and this expensive. The island remains one of Florida’s most coveted addresses for new luxury construction along the Gulf.
Transaction Highlights
- Loan Amount: $4,536,628
- Property Type: 2 luxury single-family residences
- Location: Longboat Key, FL (Manatee County)
- Loan Purpose: Ground-up vertical construction
- Leverage: 90% LTC
“Coastal luxury developers need a lender that can deliver real leverage without the red tape,” said Dylan Nelson, Founder and President of Nelson Funding. “Closing this facility at 90% LTC for a repeat client shows why builders trust us with aggressive, spec-friendly capital that lets them build more.”
Financing a Florida project? 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.
