Our $1,794,000 ground-up construction loan has enabled our borrower to build a dramatic, elegant spec estate, spanning over 8,379 square feet in “one of the best places to live in Virginia,” less than an hour from Washington D.C. The subject property is a five-acre shovel-ready vacant lot purchased by the borrower in October 2020. There are already three interested buyers in the planning stages, which will allow the borrower to quickly exit the loan once the property is sold.
- 70% LTV of the As-Completed Value
- 12 Months Interest Revenue
- In-House Fund Control