As market conditions continue their inexorable change, Seattle Funding Group’s successes and asset class mix likewise evolve. Over the past 12 months, we have seen and closed far more multifamily financing transactions (as a percentage of total activity), including bridge loans, asset repositioning and construction lending, whether ground-up or construction completion.
While this recent closing is new construction and on the smaller side, it typifies the structural flexibility and staff tenacity SFG brings to the table. Seven, alley-fronting, new units on a small footprint behind an existing, tenanted SFR. Four story walk-up with one deed-restricted, lower income unit. A process delayed by myriad external factors that created a 291-day deal (executed LOI to closing), during which time other construction loans came and went (closed) in as little as 21 to 25 days. Yet, it is nonetheless a Success Story for this sponsor and what will, in time, become a successful and financially rewarding student housing asset.
Capital at the Speed of Business, even if, at times, your pace is a little slower than ours.