LFB Ventures was engaged by a client seeking inventory financing for a Luxury Townhomes in Redondo Beach California. The development consists of Twenty 2,000 square foot townhomes. The developer had a construction loan maturity approaching where they would have had to pay out to recharge their interest reserve. LFB structured an inventory loan which recapped the construction loan and got borrower over $1.5M in cash out ahead of certificate of occupancy of the units. The project was closed over Christmas at 56% LTV.
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