Infrastructure Financing for Foley AL BTR Community
StackSource recently arranged financing for a joint venture development group out of California and Louisiana. The group has extensive experience in both conventional multifamily development as well as single family home development. Although, more recently, they have ventured into build-to-rent communities (BTR) in the south. They went under contract for a key piece of land in Baldwin County, Alabama which has seen more growth over the past two years than any other county in Alabama. The lender was able to close quickly within 45 days. Freddy secured the $6.1mn of debt at 80% LTC to secure the financing for the horizontal development of this project. Freddy is looking forward to continuing his relationship with the investment group as they grow their portfolio in the south.