Use of loan: Ground Up
Term: 12 months
Loan amount: $200,000
Loan to value: 50%
Location:
A real estate investor who acquires and entitles land identified an opportunity to purchase a 7,000 sq. ft. corner parcel in a rapidly developing neighborhood. He had to close within 30 days with no contingencies to realize a sizeable discount. On a tight timeline, bluebird was able to underwrite the deal and originate the loan within the borrower’s timeframe to close.
