Shawbrook Capital Inc Secures $7,907,161 Construction Loan For 9 SFR Development In Morgan Hill

This transaction involves a single-family property with a total square footage of 30,894 located in the Morgan Hill market. A construction loan amounting to $7,907,161 was secured, which will aid in the development of nine single-family residences planned on the property. The loan type is classified as a construction loan with an interest rate of 10.25% and a term of 24 months, allowing the borrower 18 months for construction followed by an additional 6 months to sell the newly constructed homes.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $7,907,161
• Lender: Shawbrook Capital Inc
• Loan Type: Construction
• Loan Terms: 2 Years
• Interest Rate: 10.25%
• Market: Morgan Hill
• Broker Representatives: Matthew Roton & Tim Moaeed - Shawbrook Capital

This deal showcases the expertise of Shawbrook Capital, which specializes in providing fast and flexible financing solutions for residential and commercial properties throughout California. This particular financing arrangement was sourced through a private fund, enhancing the lender's capability to facilitate expedited closings and eliminate appraisal requirements on qualifying transactions. The property was purchased all cash earlier in the year prior to securing this loan for construction purposes.