North Carolina Construction Lenders for Commercial Real Estate
Are you building a commercial property in North Carolina? On this page you'll find a list of private construction lenders for commercial real estate ground-up projects in North Carolina's urban areas. The maximum loan-to-completed value (LTCV) for most lenders is 70%. You typically need to contribute 25%-35% of the project costs and have cash reserves. Development experience is always required. Most lenders will require the project to be fully entitled and shovel ready. Some lenders will consider funding up to 50% of the land acquisition. Our platform has construction lenders for various types of commercial real estate, including industrial, retail, self-storage, hotels, gas stations and others.Searching...
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Funded CRE Construction Loans in North Carolina
Private Construction Loan for Mixed-Use Development in Charlotte, North Carolina
$40,000,000
BridgeInvest, a direct CRE private lender, funded a $40,000,000 1st lien position private construction loan for the adaptive reuse of a mixed-use development in the Optimist Park neighborhood of Charlotte, NC. The former Highland Park Mill will be redeveloped into a 140,000 SF property consisting of 80,000 SF of office space and the city’s first large-scale food hall. The project aims to be a catalyst for the redevelopment of the Optimist Park neighborhood as the Blue Line light rail opens the Parkwood Station just steps from the property. Along with BridgeInvest’s construction loan, the project is supported by tax credits provided by both federal and state governments to support the renovation of the historic asset. BridgeInvest was able to fund the loan in 6 business days to assist the Borrower in continuing their swift construction progress. This CRE private construction loan was funded in May 2018.