Multifamily Development and Construction Loans
Multifamily development financing requires sophisticated loan structures that address the unique challenges of apartment construction and lease-up. Our hard money programs provide comprehensive funding for ground-up multifamily projects, including land acquisition, construction costs, soft costs, and interest reserves during the development period. Unlike conventional construction lenders who require substantial pre-leasing or take-out commitments, we evaluate projects based on market demand, location quality, and developer experience.
We finance multifamily projects across the full spectrum of Palm Beach County's rental housing market. Workforce housing developments in emerging suburban areas serve the region's growing service economy employees. Luxury apartment communities in downtown West Palm Beach and coastal communities attract professionals seeking amenity-rich living environments. Small-scale infill projects in established neighborhoods provide boutique housing options that complement surrounding architecture. Our lending team understands the distinct requirements of each market segment and structures financing appropriate for specific project types.
Construction draw management for multifamily projects requires careful coordination with general contractors, architects, and project managers. Our draw systems align with construction milestones and payment schedules, ensuring adequate capital availability while maintaining appropriate oversight of fund disbursement. We work with experienced multifamily developers who understand the importance of schedule management, cost control, and quality construction in achieving successful project outcomes.
- Ground-up multifamily construction financing without pre-leasing requirements
- Funding for land, construction, soft costs, and carrying reserves
- Milestone-based draw systems aligned with construction progress
Apartment Building Acquisition and Value-Add Financing
Beyond new construction, significant opportunities exist in acquiring and repositioning existing multifamily properties throughout Palm Beach County. Our value-add financing programs provide capital to acquire stabilized or underperforming apartment buildings and implement renovation programs that increase rents, reduce operating costs, and enhance property values. This strategy captures returns through both income improvement and appreciation during the hold period.
Value-add multifamily investments require comprehensive renovation plans addressing unit interiors, common areas, amenity upgrades, and operational improvements. Our acquisition plus renovation loans fund both purchase and improvement costs, with renovation capital held in escrow and released through draw requests as work is completed. Typical value-add projects include unit kitchen and bath renovations, flooring upgrades, HVAC modernization, and amenity additions such as fitness centers, pool improvements, or co-working spaces.
The underwriting of value-add multifamily loans considers current property performance, renovation impact on achievable rents, and market absorption rates for improved units. We evaluate comparable properties that have undergone similar repositioning to validate rent increase assumptions and timeline projections. Our lending experience with multifamily value-add projects across Palm Beach County provides market insight that helps developers refine their business plans and achieve projected returns.
- Acquisition plus renovation financing for value-add multifamily
- Unit and common area improvement funding through draw systems
- Market-based underwriting reflecting renovation rent premiums
Ground-Up Development and Entitled Site Financing
Developing multifamily projects from raw land through completion requires patient capital that accommodates extended timelines and milestone-based funding needs. Our ground-up development loans support projects from entitled site acquisition through certificate of occupancy, providing comprehensive financing that eliminates the complexity of coordinating multiple funding sources through different development phases.
We finance entitled development sites that have secured necessary zoning approvals, development orders, and building permits for multifamily construction. This entitlement milestone represents significant value creation and de-risking compared to raw land, allowing improved loan terms and higher leverage ratios. Our lending team reviews entitlement documentation, civil engineering plans, and construction documents to ensure projects are ready for vertical construction before funding.
For developers with multiple multifamily projects in various stages, we offer portfolio development facilities that streamline capital deployment across the project pipeline. These master facilities reduce transaction costs, improve capital efficiency, and provide consistent funding relationships as you move from project to project. Portfolio structures also accommodate cross-collateralization that increases borrowing capacity while maintaining flexibility for individual project financing and disposition.
- Comprehensive financing from entitled site through completion
- Entitlement milestone funding with improved terms
- Portfolio facilities for multi-project developers