Luxury New Construction Hard Money Loan in Charlotte, NC

Luxury New Construction Hard Money Loan in Charlotte, NC Highlights

>This transaction involves providing a bridge loan for a luxurious single-family home located in one of Charlotte, NC’s most sought-after neighborhoods. The property is an impressive 8,152 sq ft estate, featuring six bedrooms and eight bathrooms, offering a host of upscale amenities including a pool, putting green, fire pit, hot tub, sauna, movie room, and bar.

The property is situated in a highly desirable neighborhood of Charlotte, NC, known for its exclusivity and appeal to affluent buyers. This area is characterized by its beautiful, well-maintained homes, proximity to top-tier schools, and a variety of upscale amenities.

About the Neighborhood

The property is situated in a highly desirable neighborhood of Charlotte, NC, known for its exclusivity and appeal to affluent buyers. This area is characterized by its beautiful, well-maintained homes, proximity to top-tier schools, and a variety of upscale amenities. The neighborhood’s strong demand for luxury real estate makes it an ideal location for high-end properties, and the borrower’s home is a prime example of the type of estate that appeals to discerning buyers. With its blend of luxury, location, and lifestyle offerings, the neighborhood continues to be a premier destination for those seeking the finest in residential living.

Why We Like this Opportunity

The borrower is a highly experienced developer known for successfully completing and selling multiple high-end properties in the region. With a high credit score and robust financials, the borrower demonstrates the financial acumen and stability necessary for securing the requested bridge loan. His extensive experience in the luxury real estate market, combined with his financial strength, positions him as a low-risk client who is well-prepared to manage the loan effectively until the property is sold.

The exit strategy for this bridge loan involves the sale of the luxury home, which is currently on the market. Given the property’s prime location and exceptional features, it is expected to attract significant interest from potential buyers. The borrower’s plan to cash out part of the loan proceeds for use in other real estate projects is supported by his proven track record of success in the market. The bridge loan will be fully repaid upon the sale of the property, ensuring a clear and effective exit strategy.

Experienced Borrower

The borrower is a successful real estate investor in high-end real estate industry in Florida. He’s sold multiple Florida homes for over $2M+ and has a high net worth and strong liquidity.

Seniority

The first-priority mortgage lien position is the most senior and highest priority within the capital structure. In the event that a borrower defaults, the lien priority determines the order in which lenders are repaid. Senior lenders are always repaid first. All subordinated positions, including the amount held by the Originator and its investor syndicate, act as a buffer in the event of a deterioration in the Properties’ value.

Personal Guarantee

The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.