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Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
04/30/2023
Property Type
Property City
Dallas
Property State
TX
Loan Term (months)
13
Lien Type
1st Mortgage
Payment Type
Interest Only
Completed Value
$1,750,000
Construction Project Scope
Vertical
Deal Summary
A Dallas-area builder had a tear-down/rebuild project ready to go, but needed financing. He attended a builder’s show conference in March 2023 and met Lima One. The rep immediately got to work on the deal for the investor, and it was submitted for underwriting within a week. Lima One closed the deal in just 17 days, which means that it took less than four weeks to get from the conference to the closing table. The quick turnaround means that the builder can start the build and get to a profitable exit as soon as possible. Now the builder is working with Lima One on additional builds, as well as multifamily investments, thanks to Lima One’s versatile product suite.
Funded By
Lima One Capital
The Nation's Premier Lender for Real Estate Investors