Bridge Loan for Townhomes in Orlando, FL

Funded by i Fund Cities

$6,800,000

Deal Details

Private Loan Type

Residential Ground-Up Construction

Approx. Funding Date

04/22/2024

Property Type
Multifamily
Property City

Orlando

Property State

FL

Loan Term (months)

12

Lien Type

Senior

Payment Type

Interest Only

Location Type

Vacation Area

Property Condition

Brand New Build

Occupancy at Closing

Vacant

Number of Units

30

Borrower's Plan

Build and Sell

Exit Strategy

Sale

Deal Highlights

A bridge loan allowed this borrower to resolve a major issue and finalize sales on 30 units
When unexpected costs arise, you need a lender who believes in you.
Client's overall plan is to complete 124 townhomes (we look forward to working with them)!
Flexibility, creativity, and developing trusted relationships is what ultimately got this deal done.

Deal Summary

CASE STUDY DETAILS

This bridge loan borrower in Orlando, FL, is a foreign national who we met through a referral partner.

The clients, originating from Brazil, faced limited funding options in the United States. They acquired an excellent site just four miles from Universal Studios and Disney in 2011. Their ambitious plan was to construct 124 townhomes, all presold to investors, to be used as Airbnb rentals for park visitors.

They successfully built the first 30 units with cash and were preparing to finalize these sales with investors. However, they encountered a sewer issue, which necessitated bridge financing to resolve the problem and to complete the 30 transactions.

HOW WE HELPED

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 this borrower to preserve their cash reserves and pursue additional opportunities.

Funded By

i Fund Cities

Great F#*%ing Loans, Built By Investors For Investors

Dealmakers

Frank Di Giacomo

Florida Territory Manager and Loan Officer

Frank, iFC’s Florida Territory Manager and Loan Officer, has built his career on his ability to communicate and cooperate.

He thrives in today's interpersonal world, having found that his verbal and written tact is his greatest strength in an ecosystem that demands connection.

Originally from New York, Frank got his start in real estate as an analyst at the publicly traded commercial real estate brokerage Marcus and Millichap. He has held business development roles with CW Capital, Reonomy, and Thomas D Wood & Company, playing an integral part in their company growth. He is proud to say that he conducts business truthfully, accurately, and passionately, traits he carries to every team he plays for, including i Fund Cities.