Deal Status

Active

Property Address

Greystone Lane

Brunswick, Maine

04011

Requested Loan Amount

3300000

Loan to Value

70

Loan Term

24

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Property Type

Single Family Residence

Number of Bedrooms

4

Number of Bathrooms

3

Property Occupied

No

Loan Type

Purchase & Ground-Up Construction

Property Type

Residential

Residential Property Type

Single Family Residence(s)

Commercial Property Type

Multifamily

Number of Units

12

Project Phase

Partially Completed

Land Value

520000

Estimated Costs

2600000

Description

Seeking funding source to wrap two entitled, permitted, and partially completed single-family developments under one construction lender. 1st position lien holder. 18-24 months. $3.3MM total loan amount, including reserves. 12 homes, total. Two homes at one site require re-fi out of existing loan. The other 10-home development is turnkey with road and utilities in place. Will sell and/or refinance assets with rental income, as needed, to create exit strategy. Desire fast closing as two lots are under construction and the 10-lot deal is expiring.

Budget

Yes

Completed

2

Licensed

No

Lot Size

5

Property Photos

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Average

Additional Attachments

Comments

Renewabuilt, LLC is building resilient housing for tomorrow's world. We specialize in ultra energy-efficient and durable homes with practical designs and accessory dwelling units (ADUs). http://www.renewabuilt.com

First Name

Todd

Last Name

Erickson

Company

Renewabuilt, LLC

Role

Borrower

Location


Maine
USA