Orlando Construction Lenders for Residential Investment Property

I Fund Cities, an alternative lending platform, funded a $6,800,000 senior lien position bridge loan for a large townhome development project in Orlando, FL. The Borrower is a foreign national entity, originating from Brazil, who we met through a referral partner. They acquired an excellent site just four miles from Universal Studios and Disney in 2011. Their ambitious plan is to construct 124 townhomes, which are pre sold to investors, to be used as Airbnb short-term rentals for park visitors. They successfully built the first 30 units with their own cash and were preparing to finalize the sale to investors. However, they encountered a sewer issue, which necessitated bridge financing to resolve the problem and to complete the 30 transactions. The loan term was set at 12 months, and the loan will be paid off upon the sale of the 30 townhomes. The Borrowers initially planned to fund the entire project with cash, as they were unfamiliar with the lending environment outside their home country. In fact, until they were introduced to iFC, they were unaware they could secure funding in the United States. Their extensive building experience, significant equity in the project, and the prime location gave us confidence in the deal. iFC’s flexible capital and objective analysis allowed us to quickly close the bridge loan needed to resolve the sewer issue. Throughout this process, we developed a strong relationship with the Borrowers, earning their trust. As a result, they chose iFC to finance the construction of the remaining 94 units. Partnering with iFC will allow the Borrower to preserve their cash reserves and pursue additional development opportunities. This bridge loan was funded in April 2024.