Project: Norwood Park - Chicago Northwest Side - Acquisition and Construction Financing - Single Family Home
Client: A single family home investor and rehabber focused on the north side of Chicago and surrounding suburbs.
Transaction: Acquisition and construction loan for single family home on the northwest side of Chicago - Norwood Park.
Challenge: Client wanted to obtain financing to purchase and build a new single family home within a short period of time. After completion, the borrower's exit was to sell to a retail home buyer.
Opportunity: Sherpa Capital Group LLC was able to provide spec construction financing to the developer who had significant cash equity into the transaction.
Action: Sherpa Capital Group LLC provided a first mortgage structured as a construction loan with multiple draws to best accommodate builder to complete in the most timely manner. Sherpa principals executed and managed all construction draws in order to provide maximum speed to market for developer.
Transaction: Acquisition and construction loan for single family home on the northwest side of Chicago - Norwood Park.
Challenge: Client wanted to obtain financing to purchase and build a new single family home within a short period of time. After completion, the borrower's exit was to sell to a retail home buyer.
Opportunity: Sherpa Capital Group LLC was able to provide spec construction financing to the developer who had significant cash equity into the transaction.
Action: Sherpa Capital Group LLC provided a first mortgage structured as a construction loan with multiple draws to best accommodate builder to complete in the most timely manner. Sherpa principals executed and managed all construction draws in order to provide maximum speed to market for developer.