Financial Compound arranged a $5 million, 100% of cost construction financing for a shopping center in Las Vegas, Nevada. The surrounding area is densely populated and home to numerous big box retailers. At the time of construction financing the property was 50% pre-leased. The loan proceeds included 100% of hard costs, soft costs, interest reserve, as well as financing and closing costs.
Financing terms included a Prime plus 0.25 interest-only rate, 12 months loan term with two six month extensions, no prepayment penalty, and 4% lender fee. Financial Compound is a commercial mortgage broker that has close numerous 100% of cost commercial real estate finance loans.
See also : Commercial Construction Loan Financing