Stormfield funded a $16M Hard Money Condo Inventory Loan in San Carlos, CA

Stormfield funded a $16,000,000 rate and term refinance secured by 26 newly completed condominium units in San Carlos, California. The financing gives the developer time to execute an orderly sell-out of the newly completed units at a measured pace. The loan is structured at approximately 64.1% LTV over a 24-month term, leaving meaningful equity beneath Stormfield’s position. Underwriting weighed absorption and the sales timeline, with the completed product and moderate leverage supporting the exit. The transaction reflects Stormfield’s disciplined approach to inventory financing on newly completed residential condominium product awaiting sale.