Tying up the land is the first priority for a developer. Then obtaining the entitlements and zoning approvals to build a project to benefit the area and community.
The challenges are common: traditional financing sources will not lend more than 50% against the current land value. But, once the developer has the equity partners to pursue a project, what would happen if we could combine the loan for acquisition and first-phase development? That may save some loan costs and headaches!
Zenith Assets specialty is applying out-of-the-box tools for Acquisition and Development (A&D) loans, subject to traditional underwriting criteria.
For those cases when a construction loan will eventually lead to a permanent loan for a portion of the project (the light retail strip on the corner of the larger development, for example), we can help there too!