This 3x repeat sponsor returned to Seattle Funding Group for financing of a small, infill residential project. Already having broken ground on the three, spec SFR project in a mature, gated community, the combination of our prior lending relationship coupled with a big balance sheet allowed SFG to quickly underwrite the sponsor and secure title indemnity with full mechanic’s lien insurance.
The leverage level was low on these large homes built at executive spec level and with terrific southwesterly views.
SFG remains very active with our construction financing programs, many of which involve spec residential projects and/or construction completion with loss of priority (LOP). When looking for deal certainty on construction financing requests, SFG’s Team has over 30 years of experience, we handle the fund control and draw process in-house, and given prompt access to the necessary underwriting data, we routinely close construction loans in under thirty days…Capital at the Speed of Business!
