The following summary is for Regency Suites, an approved ten-story mid-rise Condo-Hotel building in Orlando, FL containing 325 for sale condominium hotel units. In April 2008, the project was 98% sold out, but the turn of the market and loss of construction funding forced the developers to halt construction and delay the project.
"Construction Inventory Loans and Mortgages Are Available For Completed Or Nearly Completed Occupancy Units" When I use the term occupancy unit, this could refer to any construction building project where an individual unit within the project will be sold or rented.
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Amid the condo sales slowdown, Bradley Deckelbaum’s Premier Developers scored a $27.8 million inventory loan for 42 unsold units at Riva in Fort Lauderdale, The Real Deal has learned. The 15-story, 100-unit condominium tower at 1180 North Federal Highway, overlooking the Middle River, was completed last year.
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The Mind of the condo construction lender.. the right to match any term sheet received by borrower for a construction loan on the development. This is a smart strategy. If a lender agrees to.
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Completed and nearly sold out, PB gardens condo project generates 5m in sales | Brought to you by AmPro Realty . The Azure condo complex in Palm Beach Gardens. The developer of a waterfront condominium complex in Palm Beach Gardens has finished construction and has sold almost all the units for a total of $155 million.
Inventory loan A secured short-term loan to purchase inventory. The three basic forms are a blanket inventory lien, a trust receipt, and field warehousing financing. Inventory Financing A loan or line of credit available to a business secured by its own inventory. That is, a business places its inventory.