$2.4MM CONSTRUCTION LOAN
We are pleased to announce the closing of a $2.4MM Senior Construction Loan
Beachrock has procured a construction loan to facilitate the remaining build out of 5 homes located in the Central Coast. The financing allowed the Sponsor to refinance out the existing construction lender who indicated an unwillingness to continue with the project due to COVID related issues.
The new lender was able to recognize that the Central Coast has become even MORE in demand due to COVID, and that the attributes of the project, including fairway view from each home, would ensure strong demand!
BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!