$900,000 Land Acquisition in Fellsmere, FL
Terrydale Capital
Mar 8, 2024 2 Min read
Land has been a difficult asset in the current market leading many lenders to adopt highly stringent underwriting or avoiding it altogether. However, it pays to have the right team in your corner to advocate for even the toughest project. Today’s deal spotlight focuses on the acquisition of a land asset where our team had to navigate some specific hurdles in order to close successfully for our client.
What We Were up Against
The borrowers came to Terrydale Capital in hopes of securing funding for land on a quick timetable. They came with a development project in mind to present as part of the story of the asset. However, many lending groups are highly conservative when it comes to land and speculative development projects.
How We Met Those Challenges
Our team was able to successfully negotiate a longer-term land loan to accommodate for the necessary time on permits, licencing and other documentation. This, in turn, would allow the development process to run much more smoothly. Ultimately we were able to secure the following terms:
- $900,000 Acquisition
- 50% LTC
- 13.00% Interest Rate
- 3-Year Term
- Full Term Interest Only
In Conclusion
At Terrydale Capital, we recognize that each deal demands a distinctive and innovative approach. Our team is poised to scrutinize every aspect of a deal, leveraging our vast expertise and networks to secure the most advantageous financing available. Discover how we can fund your upcoming commercial real estate venture. Call us today.
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.
