The borrower raised capital from an unsold stock of apartments in order to start a new development project, while the sales process continued.
The borrower built two residential apartment buildings comprising 140 apartments. 120 were sold and the construction loan was repaid. The borrower already had new plans and needed a development exit loan/sale advanced loan for the last 20 apartments as the money was “stuck“ in the apartments which were selling at a rate of 1-2 per month.
Due to the low risk and city centre location, EstateGuru was able to provide the needed financing for a short-term period, allowing the borrower to pursue a new development project, i.e releasing funds immediately and providing the opportunity to repay the loan from each sold apartment.
With over 59707 international investors, both retail and institutional, EstateGuru is also the perfect showcase for your development. Our investors don’t just have tens of millions available to lend, they also regularly purchase a property they have invested in during development.
With over 59707 international investors, both retail and institutional, EstateGuru is also the perfect showcase for your development. Our investors don’t just have tens of millions available to lend, they also regularly purchase a property they have invested in during development.
The borrower raised capital from an unsold stock of apartments in order to start a new development project, while the sales process continued.
The borrower raised capital to cover the expenses of the development project preparation while waiting for building permission to be issued and long term development financing to be secured.
The borrower raised capital to quickly finance the purchase of the property from auction and then to prepare it for completing construction.
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Have any questions? Don’t hesitate to contact us directly by phone (+372) 58166002 or send email to ambassador@estateguru.co
