GREENVILLE, S.C.--(BUSINESS WIRE)--Lima One Capital, the nation’s premier lender for real estate investors, recently financed a 108-unit, 216 bed, student living portfolio in Tallahassee, Fla. This large-scale investment was underwritten and funded within 16 days and further establishes the company’s overall growth in the multifamily investment space.
This project is a prime example of Lima One Capital’s competitive advantage in this evolving sector through their efficient process, streamlined underwriting, and elite customer service for small balance and middle market multifamily deals. The investors came to Lima One Capital needing to close quickly after their current lender was unable to meet their purchase deadline.
“Student living deals take on an entirely new risk profile,” said Brian Cauthen, Lima One Capital’s director of multifamily and commercial financing. “Most traditional lenders aren’t able to streamline the underwrite due to the nuances of value alpha as it relates to deal-specific risks. When we looked at the properties in Tallahassee, we gathered specific knowledge of the advantages and worked together with the sponsors who had significant expertise.”
Since launching the multifamily program in the fall of 2016, Lima One Capital has financed small and middle-market multifamily deals across the country. In addition to multifamily financing in 45 states, Lima One Capital also offers FixNFlip and Rental property financing nationwide.
“The deal was to gain more coverage in proximity to ‘college town,’ a newer development of student living and dining which has seen unprecedented growth over the last five years,” said Diane Sugrue, Lima One’s senior analyst. “It created a ‘location arbitrage’ that would be easy to overlook. Fortunately, between the sponsors experience along with Lima One’s familiarity to the market, we were able to streamline the approval and ultimately close in record time.”
To learn more about multifamily loans from Lima One Capital, visit www.limaone.com/multifamily/.
About Lima One Capital
Headquartered in Greenville, S.C., Lima One Capital is a mortgage finance company that specializes in providing customized real estate loans to lenders across the nation. Programs include multifamily opportunities, FixNFlip and rental property loans that are competitively priced to meet all investment needs. Visit limaone.com for more information.