This “A grade” borrower had acquired a small assemblage to develop detached, in-fill, residential townhomes two blocks from the beach. The free and clear property had already received Coastal Commission approval and needed final working drawings and engineering in order to advance to building permits. Seattle Funding Group worked with the broker to provide his client the required pre-development capital and liquidity needed to complete the approval process. At the same time, SFG furnished conditional approval for the vertical construction financing, thereby providing a one-stop solution that allowed the broker to address both pre-development and construction financing needs for his client. The two transactions were right over SFG’s plate, and the capability to hit both afforded a home run for this broker and his valued client.
Pacific Beach (San Diego), CA