This cash-out refinance came to SFG via one of our many professional brokerage contacts. Borrower had recently purchased this one-half acre parcel in Tempe, near the ASU campus. His plan was to scrape the site and develop townhouses. With Tempe’s current backlog of projects waiting to be permitted, the borrower decided to pivot and re-hab the existing units. SFG quickly evaluated not only the real estate but also the borrower’s track record in converting similar projects. By providing a low-leverage cash out refinance, the borrower was able to quickly transform the project into attractive, easily rent-able units.
This project illustrates the flexibility SFG has-the strength to fund multi-million dollar construction and acquisition projects throughout the West, yet also the local expertise to evaluate and fund a small request.