Sweetwater Capital Facilitates $20.5M Construction Loan for Multifamily Property
Sweetwater Capital begins 2019 with the placement of a $20.5M construction loan for a new multifamily property in Burlington, NC. Occasionally viewed as a difficult market, Sweetwater Capital’s strong lender relationships brought competitive terms, 80% loan to value (LTV), and a loan amount above the borrower’s expectations.
“The market is still competitive and being able to provide our client with the advantage of a loan that works best for their investment goals is what we continuously strive for,” shared Jackson Howard, Sweetwater Capital president.
“Burlington is experiencing a significant amount of growth as several large corporations are investing in the area. We expect to see more opportunities such as this over the next couple of years,” Howard commented.
A mixed-use community, this new multifamily development will include 183 units of garden style apartments and retail space. Covering seven acres, residents will have access to a plethora of amenities such as a saltwater pool, clubhouse, fitness and cardio studio, lounge area and dog park.
About Sweetwater Capital
Since 2007, Sweetwater Capital has been raising the bar on expectations of mortgage brokers. Specializing in permanent, non-recourse debt for commercial real estate, Sweetwater Capital has closed over 230 commercial loans across 11 states, surpassing $2.2 billion in loan volume.
Sweetwater Capital’s main office is based in Fayetteville, NC, with local offices in Nashville, TN, Tampa, FL and Cincinnati, OH. Our team covers the Southeast, Mid-Atlantic and Midwest, positioning ourselves as a strategic resource to guide our clients, providing them with the best financing solutions to meet their investment goals.