funded
$3,325,000 First Mortgage Loan
Martha's Vineyard Seasonal Rental
Chilmark, MA
Financing Solution Funded by FBCP
Historic Estate on Martha’s Vineyard
The Borrower approached First Boston Capital Partners (FBCP) due to the unique nature of this property. The property consisted of several land parcels, some of which were under a conservation restriction.
The Borrower overcame the hurdles posed by bank lenders, who struggled to underwrite the property due to its distinctive nature, and discovered a solution with our private lending.
Two of the parcels contained multiple structures, all of which needed significant renovations. Due to the unique nature of the property, the business plan and the need for renovations, bank lenders had a difficult time underwriting this and were requiring more cash equity than the Borrower had to invest.
Understanding the business plan and having confidence in the value of the underlying real estate, FBCP was able to finance the acquisition and provide construction funds for the existing structures.
If you have a unique project that doesn’t fit in your bank lender’s “box,” reach out to a member of our lending team today!
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Experience the support and expertise that ensures your project’s success. Our lending team is dedicated to helping you complete your project with funding, from start to finish.
