New Construction Financing
For many businesses retrofitting an aging work space or the constant maintenance and repairs on aging multifamily or retail center eats too far into working capital. In those instances a modern building constructed from the ground up to meet your needs could be the way to go.
Owner Operated Property
Build a space to suit the way your business works today.
Multifamily
Build to attract lessees with today’s luxury standards.
Retail and Office
Integrate today’s standard for servers, electricity, telecom.
Meet customer expectations
When you retrofit you can run into a host of problems – walls that block wifi, floors that need added support, basements that leak. By building from the ground up you can design to meet your client’s expectation and add satisfaction through sustainable upgrades and features.
years of combined industry experience.
years of combined industry experience.
How New Construction financing works
Construction financing is a term loan built around the specifics of your construction project. These loans are often interest only during the term, and on project completion the expectation is that you will roll them into permanent financing, if you will retain the building as an owner/operator or landlord, or that you find a buyer prior to project completion in order to repay the loan in full.
Construction loans can be set to pay out in stages, so once the foundation is poured, it is inspected for quality and completion, then the funds are disbursed. Each stage is completed and verified before moving on to the next, helping you to evaluate project flow and milestone completion.
Benefits of construction financing
Rather than paying out of pocket, construction financing gives you an interest only option during the loan term and added protections through independent verification of milestone completion. You can design to your specifications and create the space you want and need rather than adapting to what’s already determined.
Start your application for New Construction financing today!
