Dallas Construction Lenders for Commercial Real Estate
Are you building a commercial property in Dallas? On this page you'll find a list of private construction lenders for commercial real estate ground-up projects in Dallas'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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Commercial Construction Loan Transactions in Dallas Fort Worth
Bridge Loan for Mixed-Use Development Project in Flower Mound, Texas
$10,440,000
BridgeInvest, a direct CRE private lending firm, closed two senior bridge loans totaling $10,440,000 to finance the horizontal development of a 12.0-acre land site and the vertical construction of a 30,000-square-foot neighborhood retail center located on a portion of the site. The property is located in Flower Mound, TX, an affluent and growing suburb in northwest Dallas near the DFW International Airport. The property is a planned mixed-use development that will include retail, office, hospitality and residential components when completed. The neighborhood retail center will host a mix of service-oriented national and regional tenants. The two loans provided the Sponsor with the proceeds required to complete the site development of the land portion and to construct and fully lease the retail portion to stabilization. The Sponsor required an expedited closing in order to refinance the existing debt, complete the site development and commence vertical construction of the retail prior to specific deadlines. We were able to underwrite, structure and fund the two loans simultaneously so that the Sponsor could meet the deadlines and proceed with the development. Although the same Sponsor is developing both projects, the business plan and capital structure necessitated that the two loans remain separate. We were able to structure around this and ensure that both loans offered sufficient proceeds and both parties’ requirements were met. The loans mark BridgeInvest’s third and fourth loans closed in the Dallas metro over the past two months. BridgeInvest continues to identify Texas, and specifically the Dallas metro, as a key target market. This commercial ground-up construction loan was funded in October 2019.