A Charlotte developer had 15 townhome lots in a fast-growing suburb - all pre-sold before breaking ground. Total project cost: $8,200,000.
LOAN AMOUNT
$6,150,000
Three unit buyers had rate locks expiring - any construction delay would cost buyers. Needed 75% LTC with a reliable draw schedule and fast initial funding.
Adler Capital structured $6,150,000 at 75% LTC with bi-weekly draw inspections and 5-business-day funding on each draw request.
The Outcome
All 15 units delivered on time. Developer profit after all costs: $1,800,000. Now working with Adler Capital on a 22-unit follow-up in the same submarket.
Deal Highlights
LOAN AMOUNT
$6,150,000
TOTAL PROJECT COST
$8,200,000
UNITS
15 Townhomes
LTC
75%
COMBINED SALES
$10,950,000
PROJECT DURATION
11 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
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An Atlanta investor acquired a 10-unit apartment building in Midtown for $2,200,000 - aging but structurally sound, rents averaging $1,100 vs market of $1,450. Classic Midtown value-add.
A 5-unit walk-up in Springfield's Forest Park section. Stabilized, all rents at market, NOI $42,000. Asking $385,000. Investor was 1031'ing out of a Tampa duplex and racing the 180-day exchange clock.
