Asset Based Lending recently funded loan for a single-family ground up construction project in Midlothian Texas for a new borrower and experienced real estate developer. With more than 18 years in the construction industry and 8 ground up construction projects under their belt, ABL felt comfortable working with this borrower on this large single-family new construction project. The borrower will create a 5-bedroom and 4-bathroom, 5835 square foot home. The scope of work includes an open concept kitchen and living space as well as a formal dining room. The main bedroom will be on the first floor with and oversized ensuite bathroom. The ceiling across most of this home will be 12ft and expand up to 20ft in the open living spaces. This luxury home will be finished with level 3 granite in the kitchen as well as marble tile in the bathroom. The borrower expects this project to take up to 12 months and intends to list it for final sale.
