Last Minute Financing Allows
Developer To Finish Luxury
Housing Project
Max Benjamin Partners, a real estate
investment bank based in Beverly
Hills, California known for assisting
clients in obtaining financing in an
ever-challenging commercial real
estate market, has successfully
secured a $33,900,000 loan to
complete the next phase of a housing
development in Eugene.
The first 81 homes, priced between
$800,000 and $1.2 million, are expected to
hit the market in about 12-15 months, says
Max Benjamin Partners Vice President,
Christian Bloom, who handled the
transaction.
Financing was a particularly
difficult challenge, says Bloom,
given today's high interest rate,
which deterred many traditional
lending institutions from the deal.
"Today's economic climate
has made financing projects
such as Timberline Hills
especially challenging, as
many lenders are reluctant to
provide capital during a time
when there is a lot of
uncertainty in the market.
New construction projects have
become increasingly difficult to
finance, specifically for-sale
residential projects," says Mellman.
"Max Benjamin Partners was able to
navigate the capital markets and secure
financing from a private debt fund based
on the developer already having invested
heavily in the project's infrastructure and
by proving the demand for single-family
homes in the market."
He adds, "In these times, we need to
give our clients the advantage, after
all, the economy can't just come to a
screeching halt because of a shaky
economy." Max Benjamin Partners
is one of the top commercial real
estate investment banks in the US
for large construction financing.
All potential investment opportunities are
carefully vetted by in-house experts to
ensure that all parties possess the
expertise, financial strength and integrity
necessary to complete each deal.
In addition to Timberline Hills,
the firm currently has more
than $500,000,000 of single-
family residential projects in
the pipeline.
Find Out More At
https://www.mbpartners.com/