Curated News
By: NewsRamp Editorial Staff
September 10, 2024
Real Estate Investment Bank TSCP Secures $64MM Construction Loan for Southern Pines Development
Discuss on Reddit
Discuss on LinkedInTLDR
- Trinity Street Capital Partners secures $64MM construction loan for 270 unit property in Southern Pines, NC, gaining advantage in expanding non-recourse construction lending programs.
- The construction loan has a 3-year term, 85% loan-to-cost ratio, and is non-recourse, showing how the project is financed and structured.
- The development in Southern Pines, NC will provide modern amenities, including a swimming pool, fitness center, and nature path, enhancing the community and quality of life.
- Southern Pines, NC offers picturesque landscapes, historic downtown, and high-end golf courses, making it an appealing destination for golf enthusiasts and travelers.
Impact - Why it Matters
This news matters as it showcases TSCP's expansion of non-recourse construction lending programs, providing insight into the real estate investment market and the development of multifamily properties in Southern Pines, NC.
Summary
Trinity Street Capital Partners (TSCP), a full service real estate investment bank, has announced the origination of a $64MM construction loan for a 270 unit multifamily property in Southern Pines, NC. The project will feature various residential buildings with amenities including a swimming pool, fitness center, and dog park.
Source Statement
This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Real Estate Investment Bank TSCP Secures $64MM Construction Loan for Southern Pines Development
