About this Property in Lewisville, TX – Office Condo Construction Completion Financing

The borrower was developing a 10-building office condo project with individual unit sales as the exit strategy. After completing and selling six buildings, construction began on the remaining four. Delays and cost overruns pushed the existing loan toward maturity before the project could be completed. With significant borrower equity already invested and a proven track record of completed sales, Enact Partners provided a $4.7MM loan to refinance the existing lender and fund the remaining construction through completion.