Seattle Funding Group of California had been talking to and working with these experienced builders/developers for over 12-months before they identified and closed on this terrific residential acquisition for demo and development. Most of their time had been spent making offers and being outbid for prime infill opportunities on LA’s active Westside. Contracting development opportunities at sensible prices continues to be ever more challenging, but once a property has been tied up, SFG moves quickly to perform the due diligence and provide the financing, whether for acquisition, construction, or both.
When approved and permitted, this older house will be demo’d and a new, far larger, contemporary house will be built in its place. Given the excellent location and commanding views, it appears as though the sponsors have found the project they have long been waiting for, and SFG of CA was ready when the call came in. We’ll be ready for the construction financing call, as well, and we’ll respond with highly competitive pricing.
Thanks to Mickey Hedges of Coldwell Banker Previews International. Mickey is one of many of SFG of CA’s professional real estate contacts throughout the Western Regional US. Their local market knowledge and resources help SFG to quickly ascertain or stay abreast of changing market conditions, competitive inventories and pricing. Mickey and all of the real estate professionals upon whom we have come to rely over the last 27+ years remain an important part of SFG’s extended team.