Loan Type: Construction
Our Client had a grand vision for this property, however, some factors that caused problems were:
• Construction term was critical for the turnaround for this project
• Possibility of construction term being longer than anticipated
• Client’s investments were undiversified and solely invested in land
Grand Pacific takes pride in our eagerness to aid our client’s business endeavors. We provided the borrower construction costs and a full term interest reserve.
• After analyzing the surrounding neighborhood, we noted that the subject was conveniently located near many commercial districts
• Put significant weight on Sponsor and general contractor’s experience to execute construction