The Client

Experienced Real Estate Developers
• Loan Purpose
Property Purchase Only
• Loan Structure
12 Months Interest Only

The Investment

Purchase Of Condo Development Project
• Purchase Price
$4,600,000
• Renovation Budget
• Loan Amount
$3,000,000
• Cash Available for Purchase
$2,800,000
• Cash Available for Renovation

The ABL Partnership

Asset Based Lending recently funded a hard money loan in Cape Coral, Florida for a 32 unit condo development project. The loan is secured by 24 completed units and the land to build 20 additional units. The land has been fully developed and the entire infrastructure is in place; water sewer, roads, power plus all the approved plans and specs to build the remaining 20 condos. The sponsors of this project are experienced real estate developers in the Fort Meyers area, and met ABL at a local networking event for real estate investors. ABL was able to finance this hard money loan in roughly 3 weeks.

The Results

• After Repair Value
$5,970,000 (as-is)
• Sale Price
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