Western Suburbs of Chicago - Acquisition and Rehab Financing - 3 Single Family Homes
Client: Single family home investor and rehabber focused on the western and northwest suburbs of Chicago.
Transaction: Acquisition and rehab of 3 single family homes located in Wheaton, Winfield and Batavia.
Challenge: Client required financing to purchase and rehab 3 single family home properties within a short period of time. After rehab was completed, the borrower's exit was to sell to a retail buyer.
Opportunity: Sherpa Capital Group LLC was able to provide 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.