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13890-7580 Spencer Court
FINANCED

Sunset Equity Funding Provides Construction Loan For 36-Acre Riverside Development

13890-7580 Spencer Court

Single Family Residence
1,568,160 SF
clock iconFinanced 1 year ago
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Summary

Loan
CALIFORNIA
Single Family Residence
1,568,160 sqft

A loan was originated by Navid Lavi of Sunset Equity Funding for the purchase of a 36-acre subdivided land in Riverside, California. The loan also covers 100% of the construction cost for 7 luxury homes. The loan was tailored to meet the client's needs, providing 90% LTC (loan-to-cost) for the acquisition and 100% of the construction expenses. Sunset Equity Funding, a nationwide lender, offers competitive rates starting from 6.99% and as low as 1 point for rehab and ground-up construction projects.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $9,698,003
  • Address: 13890-7580 Spencer Ct., Riverside
  • Market: Riverside
  • Acres: 36

Navid Lavi, representing Sunset Equity Funding, facilitated the loan for this ground-up construction project. He assisted the client in designing a loan that allowed for a high LTC ratio and covered both the land acquisition and construction expenses. For more information or inquiries, please contact Navid Lavi at 213-216-6216.

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Sunset Equity Funding's profile picture
Sunset Equity Funding
Sunset Equity Funding

Details

Deal Summary
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FINANCED
IMAGE: Navid Lavi DATE: 06/04/2021 ADDRESS: 13890-7580 Spencer Ct. MARKET: Riverside ASSET TYPE: SFR ~ ACRES: 36 LENDER: Sunset Equity Funding - Navid Lavi (@NavidLavi) LANDLORD: Fairhaven Corp. - Seth Everett Lockwood LOAN AMOUNT: $9,698,003 LOAN TYPE: Construction LOAN TERMS: 90% LTC - Acquisition + 100% of Construction NOTES: While most lenders are not originating loans for Ground Up construction, @NavidLavi of Sunset Equity Funding helped his client design a loan at 90% LTC for the purchase of the 36-acre subdivided land & 100% of the construction cost for 7 luxury homes in one of the most prestigious neighborhoods in Riverside. Sunset Equity Funding is currently lending nationwide & has dropped rates on Rehab & Ground Up construction to as low as 6.99% & points as low as 1. For any questions, please contact @NavidLavi at 213-216-6216

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