$675,000 Land Acquisition | McKinney, Texas
Terrydale Capital
Oct 25, 2023 3 Min read
In a difficult market marked by uncertainties and a stringent lending environment, investors are often at odds when it comes to acquiring competitive financing options for their commercial real estate investments. When our client came to us, they sought a creative team to help finance their development project. In today’s deal spotlight, we explain how our team put our creative minds to work on a land asset with conservative lenders and reached competitive terms for our client.
What We Were Up Against
At the outset, the borrowers were pre-leasing the development. Initially they were targeting an acquisition and construction loan in tandem. However, due to current market conditions and the risk of the speculative market, this proved rather challenging.
How Terrydale Met the Challenge
Through successful negotiations, we were able to acquire a short-term hard money land acquisition deal which was able to mitigate the larger timing constraint. This allowed for additional time to hit crucial metrics and mitigate leasing concerns for the competitive construction financing. Ultimately we were able to secure the following terms:
- $675,000 Hard Money Acquisition
- 12.75% Floating Interest Rate
- 6-Month Term
- 50% LTV
In Closing
Despite a volatile market and changing lender criteria - Terrydale Capital is on top of every shift by using our collective knowledge acquired through hundreds of successful deals. No matter the difficulty or simplicity, Terrydale Capital’s commitment to our clients’ success will always put us one step ahead in the process of securing the most competitive financing available. And now it is easier than ever to have access to our team with Terrydale Live. With the full ability to secure financing all online with the full support of our dedicated team beside you, it has never been easier to invest in commercial real estate.
Partner With Terrydale Capital for Your Debt Financing Needs
When it comes to debt financing, understanding the right timing, process, and options is crucial. At Terrydale Capital, we provide a comprehensive range of commercial loan solutions tailored to meet your business's unique needs.
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Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
