Blackstone Bay Lot Development
80% LTC, 2 year I/O
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.
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