Exponential Equity Group Secures $11.165M Construction Loan In Charlotte

The property involved in the transaction is a multifamily asset located at 3010 West Boulevard in Charlotte, NC. The asset consists of 29 for-sale townhomes spread across 7 buildings. The construction of these townhomes is being financed by a construction loan provided by Roc Capital at a total loan amount of $11,165,000. The loan terms include a facility of loans at 90% LTC, an 18-month term per loan, a fixed interest rate, and full-term interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,165,000
• Units: 29
• Loan Type: Construction Loan
• Lender: Roc Capital
• Landlord: Exponential Equity Group
• Broker: Zach Lutwak-Fitzgerald - Black Bear Capital Partners

The deal's key individuals and companies involved include Zach Lutwak-Fitzgerald from Black Bear Capital Partners. The loan is provided by Roc Capital, and the landlord of the property is Exponential Equity Group. The construction financing will support the development of 29 townhomes within the multifamily asset, contributing to the residential market in Charlotte, NC.