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Loan Amount
$510,000
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LTV
65%
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Term
12 Months
Transaction Overview
Stormfield Capital funded a $510,000 ground up construction loan to support the acquisition of a lot and construction of an approximately 3,000 square foot single-family home in Keyport, New Jersey, located along the Raritan Bay in Monmouth County. The repeat Stormfield borrower, an experienced residential spec builder with multiple completed projects in the region, required financing to acquire the subject lot and fund the full construction budget. The loan was structured at 65% LTV. The sponsor’s established track record with Stormfield and demonstrated construction experience supported the lending decision.
