BEACHROCK CAPITAL CLOSES A $1.6MM LAND BRIDGE LOAN ON UNENTITLED LAND IN UPLAND, CA FOR 19 ATTACHED TOWNHOMES
This transaction featured:
A knowledgeable lender that was willing to dig into a "by right" entitlement process.
Lender willing to allow demolition during entitlements improves marketing window for adjacent project, and saves cost by allowing builder to use work crews already mobilized to the site!
Excellent sponsorship who was able to outline the remaining entitlement and permitting process.
Proven demand for the affordable product proposed on the site.
Higher advance rate than is typically offered in the market
Non-recourse
Funded in 3 weeks, start to finish!
BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!
Existing Improvements to be demolished during entitlement
Proposed 19 Townhomes