Austin, TX

The Opportunity

A Texas builder had a shovel-ready luxury townhome development property in Austin and wanted to get a construction loan to finance the build.

He needed financing with maximum leverage that would cover the construction of eight townhomes at once—which was difficult because many construction lenders limit their financing to quadplexes. His search led him to Lima One.

The Solution

Lima One’s commitment to continuous improvement in loan offerings made this loan possible. Lima One financed the construction of this 8-unit portfolio at a 90% loan to cost thanks to a recent loan program upgrade that enables builders to finance builds of properties with 5-9 units. This loan fit that program perfectly, and came with Lima One’s premier in-house construction draw and loan servicing teams.

Lima One was able to quickly underwrite and close the loan, allowing the builder to start immediately and move efficiently toward profit on this development in one of the hottest housing markets in the country.