36.5MM – Condominium Complex – California

This is a repeat client with LFCP . The asset was 70% complete when the current construction lender was unable to fund the remainder of the project. The capital stack consisted of 32mm in senior debt along with 4.5mm in pref equity. LFCP faciliated a 30 day closing in order to payoff the existing debt and to provide the approx 8mm in CAPEX needed to finalize construction.