Construction of the first phase of 30 townhomes in scenic Rockaway Beach, OR is complete. The project is off to a great start as all six of the units were pre-sold and sold for significantly more than they were appraised for pre-construction. Major banks passed on the deal due to the fact that the income producing part of the property (an old family owned motel) was being torn down to make way for the townhomes. Seattle Funding Group’s quick construction loan assisted in successfully putting the borrower “on the map” as a quality developer.
