Equitas Capital Group Provides $14.3M Construction Loan For Development Site On Deerfield Road In South Hampton

A construction loan has been secured for a development site located at 2065, 2069, 2061 & 2071 Deerfield Road in South Hampton. The loan amount is $14,285,000, and it is a construction loan for a portfolio of four single-family rentals. The loan terms include a rate of Prime + .50%, a loan-to-cost (LTC) ratio of 75%, a term of 24 months with two optional 6-month extensions, and interest-only amortization. There is no prepayment penalty associated with the loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $14,285,000
• Address: 2065, 2069, 2061 & 2071 Deerfield Road, South Hampton
• Loan Type: Construction Loan
• Loan Terms: Rate: Prime + .50%; LTC: 75%; Term: 24 months + (2) 6 month extensions; Amm: interest only; Prepay: No Prepay

The deal was facilitated by Alex Leykind and Zarina Bazakova from Equitas Capital Group, who acted as brokers representing the involved parties. Equitas Capital Group is equipped with an extensive network of lenders to ensure appropriate financing options are available regardless of the timing and circumstances of the transaction.

For more information on financing commercial properties, interested parties can contact Equitas Capital Group at 646-637-7510 or via email at [email protected].