-
Loan Amount
$2,200,000
-
LTV
63%
-
Term
18 Months
Transaction Overview
Stormfield funded a $2,200,000 construction completion loan for an 11-unit multifamily project in Waterbury, CT. The property is owned free and clear, with framing complete at the time of funding. The sponsor is an experienced local operator with a track record in comparable projects. The loan is sized to 63.36% LTV against a stabilized value of $3,472,125, with a $1,700,000 construction reserve in place to fund project completion.
