A local real estate investor was seeking a refinance and construction loan for a mixed-use property in Wailuku, situated on the beautiful island of Maui. After contacting Rodeo Lending, our client secured approved plans and permits for the project, which involved the construction of eight new apartment units on the second floor of the property. The first floor of the building is occupied by a long-standing commercial tenant. Wailuku, located at the base of the West Maui Mountains, is a burgeoning neighborhood with a mix of modern and traditional architecture. The area is known for its historic town center and vibrant mom-and-pop businesses, coffee shops, and restaurants. Additionally, Wailuku is currently experiencing a revitalization, with plans underway to convert the local Kahului airport into a permanent international airport.
Key Highlights
- Refinance and Construction Loan of Mixed-Use Property
- In-House Fund Control
- 60% LTV to ARV
- Built-In Interest Reserves
- Construction of Eight New Apartment Units
- Long-Standing Commercial Tenant
- Surrounded by a Historic Town and Local Small Businesses
- Situated on the Beautiful Island of Maui
