Seattle Funding Group remains quite active in the financing of spec residential construction throughout the core markets of The West. While many other private construction lenders are pulling back from that asset class, SFG continues to support solid sponsors and their well-considered projects which meet market demand with the right combination of location, quality and pricing. And this Carmel project was no exception to that lending focus, while being exceptional within its submarket.
This terrific 5,005 sq. ft spec SFR was beautifully designed with 4BR, 5BA, a 425 sq. ft. guest house and garages for 3-cars. Built on a 26,000 sq. ft. lot overlooking open space and a densely wooded creek, walking paths make this estate easily accessible to Carmel’s Village area.
Like so many higher-end submarkets, Carmel sales have been extremely active, with demand far outpacing the availability of quality, new product. Coupled with the capable and experienced sponsorship, SFG saw the opportunity and quickly provided deal certainty.
With 32 years of history as one of The West’s premier and most stable private lenders, SFG has never stopped funding. Being an unleveraged fund, and a portfolio lender, SFG has the flexibility to focus on common-sense underwriting…we don’t have a bank or capital provider dictating rates or asset classes. Our rates remain highly competitive, and our appetite keen.
As this market continues to change and evolve, remember Seattle Funding Group for rock solid stability…and Capital at the Speed of Business.