Im Gary!
Direct to a sponsor who is seeking a LENDER NEEDED ALABAMA
$6.5M
New Multifamily GUC in Alabama
Increasing his liquidity
The ideal scenario would be a loan to finish site work with the first 36 units going vertical.
With $700,000 liquidity they should be looking at a sub 50% LTARV request.
Horizontal $1.5M
1bd $1.3M
2bd $1.7M
2bd $1.7M
TOTAL LOAN AMOUNT $6.2M (Plus IR)
Stabilized value of 3 Buildings + Vertical ready site than worth North of $12.5M
I can send the FULL DEAL PACKAGE
DIRECT LENDERS PREFERRED
BROKERS OK