Axcel Funds $8.5MM Construction Loan for Luxury Home Development in Westchester County, NY

March 14, 2017

 

The Opportunity

Our client, an experienced luxury home developer in Westchester County, NY, had invested significant time and equity into obtaining approvals for a 27-unit clustered home development in the NYC metropolitan market. While still well within a reasonable commute, the project offered a significant pricing discount to NYC commuters. With approvals in hand, the project was shovel-ready, however, none of the Sponsor's local banks were interested in funding.

 

Axcel's Solution

Recognizing the viability of the project, and relying on the Sponsor's significant experience, Axcel structured acquisition and construction financing to meet the needs of both potential lenders and the Sponsor. We then obtained interested lending sources and negotiated the best structure for our client. With funds for acquisition and construction in place, the project is now ready to go. 

 

We Can Help You

We are experts at recognizing value, structuring, and placing all types of commercial real estate financing. From Bridge and Equity, to Agency and CMBS, we have the right options for Multifamily, NNN Lease and Owner-Occupied projects nationwide.

 

Contact Us

For all of your development, acquisition or refinancing needs, contact Patrick Curtin, Managing Director, at (610) 716-7557 or drop him an email. I'm sure our team can help finance your opportunities.

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