LFB Ventures was engaged by a new borrower to recapitalize a 9-Unit, for-sale townhome project in Seattle, Washington. At time of funding, the project was already owned, 60% of construction had been completed, but underlying construction loan was set to mature due to delays.

Based on the borrower’s strategic acquisition and value creation during life of ownership, LFB was able to get the owner cash out of the project as well as refinance the project at a 9.5% rate. The project consists of 9 townhomes with each townhome averaging 1,800 square feet.

We continue to secure land, land development, and vertical construction financing for homebuilders and developers nationwide. We are also active in workouts, construction completion, and note sales. Please reach out with any financing needs.