Asset Based Lending recently funded a hard money new construction loan in Charleston South Carolina. This first time borrower with ABL is an experienced real estate investor that partners with a highly reputable general contractor that builds over 300 homes a year throughout South Carolina. This blanket loan covers the construction of three separate single-family homes across three lots. The proposed builds vary in size & scope: one 4-bedroom, 2.5-bathroom measured at 1,990 square feet, one 5-bedroom, 2.5-bathroom measured at 2,104 square feet, and another 4-bedroom, 2.5-bathroom measured at 1,871 square feet. Each property will feature mid-level finishes, vinyl siding, single hung windows, nine-foot-high ceilings, crown moldings on first floor, fiberglass exterior doors and hollow core interior doors. Kitchens will be highlighted by quartz countertops, soft close cabinets, and stainless steel appliances. Total project time is expected to be five months, with homes being sold as they approach their finish dates.
