Modern coastal residence on deep water canal in Sarasota with dock and boat lift.
LOAN AMOUNT
$1,750,000
Permit delays with coastal environmental review required extended interest reserves.
Structured $1,750,000 construction facility with built-in 18-month interest reserve.
The Outcome
Completed and sold for $3,350,000 with strong return on capital for the developer.
Deal Highlights
LOAN AMOUNT
$1,750,000
TOTAL COST
$2,350,000
LEVERAGE
74% LTC
PROJECTED ARV
$3,200,000
TERM
18 Months
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