Project Description

Loan Type: Construction

Challenge

This deal came to Grand Pacific after being turned down by numerous conventional lenders.

• Seeking 100% of construction cost with payment reserves
• Client was not a seasoned real estate investor and limited experience in real estate development
• High reliance on general contractor

Our “can do” attitude, kept us from declining this deal and instead we searched for means to fund this deal.

Solution

Grand Pacific was able to step in to provide the requested capital.

• Assisted with the evaluation of general contractors
• Was able to underwrite the deal based on general contractor’s experience
• Understood the market demand for apartments in area

Grand Pacific was once again was able to deliver and execute the deal to satisfy the broker’s and client’s needs.

 

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California Finance Lender License# 6032068, 6050620.