Rodeo Lending successfully closed a $2,940,000 construction completion loan in Wailuku, Hawaii, providing the capital needed to bring a partially completed mixed-use property to the finish line.
This transaction highlights our ability to deliver hands-on execution and structured financing solutions for complex projects requiring precision, speed, and experience.
Property Overview
The subject property is a 9,550 square foot mixed-use asset in Wailuku, located in one of Maui’s most desirable and supply-constrained markets. The property consists of:
- Eight residential apartment units
- One commercial unit
- A flexible layout with strong income potential upon stabilization
With a strategic renovation plan in place, the property is positioned to deliver long-term value through improved unit mix and enhanced usability.
Scope of Improvements
Loan proceeds were used to complete key components of the project, including:
- Unit additions to increase overall density
- Interior conversions to optimize layout and functionality
- Exterior parking improvements to enhance accessibility and usability
These upgrades are designed to maximize the property’s income potential and overall market value.
Complex Deal. Clean Execution.
This was a more complex construction completion transaction, requiring detailed coordination between multiple parties and careful management of the remaining scope of work.
Rodeo Lending delivered:
- Hands-on coordination throughout the process
- Concierge-level service from start to finish
- Clear communication and proactive problem-solving
- Efficient execution to ensure a smooth closing
- 56% of After Repair Value (ARV)
Our team remained actively involved at every stage, ensuring the deal stayed on track and closed without unnecessary delays.
Positioned for Long-Term Refinance
Upon completion and stabilization, the borrower plans to exit into a long-term conventional refinance, capturing the increased value created through the completion of construction and improvements.
This strategy allows the borrower to:
- Stabilize the asset with improved cash flow
- Refinance into more favorable long-term terms
- Maximize return on investment
Why Construction Completion Financing Matters
Construction completion loans are critical for projects that are partially built or require additional capital to reach completion. With the right financing partner, borrowers can:
- Avoid stalled or delayed projects
- Complete improvements efficiently
- Transition into stabilized, income-producing assets
- Unlock long-term financing opportunities
Let’s Talk About Your Next Construction Completion Loan
If you have a project that needs completion financing or a creative lending solution, Rodeo Lending is ready to help you get it across the finish line. Contact us today.
