Private Money Loan for Multifamily Rehab in Savannah, Georgia

Funded by Navigator Private Capital

$679,500

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

11/07/2019

Property Type
Multifamily
Property City

Savannah

Property State

GA

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

58%

Renovation Budget

$155,000

After-Repair Value

$1,100,000

Number of Units

6

Deal Summary

Navigator Private Capital, a private real estate lender, funded a $679,500 1st lien position private money loan to fund a beautiful multi-family rehab project in Savannah, GA. The Borrower needed funding to renovate the existing six individual units with the intent to turn the property into a short-term vacation or student housing rental. Located a block from Savannah’s meeting grounds at Forsyth Park, close to the Savannah College of Art and Design, the property is in a prime rental location. The LTV for the project was 58% with an after-repair value of $1.1M. The Borrower used their $155K repair budget to replace the flooring throughout, update each kitchen with new cabinets, countertops and appliances and refresh the paint and trim. This private money loan was funded in November 2019, and the rehab took four months to complete.

Funded By

Navigator Private Capital

Knowledge. Experience. Integrity.