Nelson Funding recently closed a $5,833,162 construction loan for the ground-up development of a five-unit townhome project in Redmond, Washington. Completed for a repeat borrower, the facility gave the builder the leverage and draw flexibility to break ground on all five units at once.
We underwrote the as-completed value and to a sponsor we’d financed before, which let us close on the timeline their pipeline demanded. Redmond sits in the heart of the Seattle Eastside, where major tech employers drive steady demand for new for-sale housing and townhome density is exactly the product the market needs.
Transaction Highlights
- Loan Amount: $5,833,162
- Property Type: 5-unit townhome development
- Location: Redmond, WA (King County)
- Loan Purpose: Ground-up vertical construction
“The Seattle Eastside is one of the most dynamic housing markets in the country,” said Dylan Nelson, Founder and President of Nelson Funding. “Closing this facility for a repeat client shows our strength in high-leverage construction capital delivered at the speed builders need to compete.”
Financing a Washington 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.
