Blackstone Bay Lot Development

Catawba County
,
NC
80% LTC, 2 year I/O
Amount: $
8540000
Interest Rate: 
%

StackSource has arranged $8,540,000 of non-recourse land development financing for a planned 185 lot, 55 acre development approximately 30 miles North of Charlotte, North Carolina for an experienced local developer. The lots are set to be sold to a national homebuilder upon completion.

Capital Advisors Omar Sobhy and Zach Wagner placed the non-recourse debt with an international mortgage REIT that was able to close financing within 45 days of the initial quote after a previous capital source failed to follow through on a lending offer.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
Habitat for Humanity of Greater Newark