Middletown, DE
$8.1MM Construction Loan

Challenge
The borrower approached Washington Square and was in a position where they needed to secure a construction loan while the Property was not yet pre-leased.

Solution
Washington Square identified a lender and worked through the process of securing a 5-year construction loan that will automatically convert to a mini-perm following construction. The loan was arranged without pre-leasing in place. Washington Square identified a lender and worked through the process of securing a 5-year construction loan that will automatically convert to a mini-perm following construction. The loan was arranged without pre-leasing in place.