Sunlite Mortgage understands the unique challenges and opportunities in the retail property sector. That is why we offer development and construction loans specifically tailored to meet the financing needs of retail property owners and developers.
Our construction loan program provides the necessary funds to cover the costs associated with building or rehabilitating a retail property. Whether it is constructing a brand-new retail space or revitalizing an existing one, our loans offer flexible terms typically spanning three years or less.
With our construction program, borrowers could finance both land development and building construction costs. Funds can be disbursed in stages, according to a prearranged schedule or when specific milestones are achieved. This ensures that you have the necessary capital at each crucial phase of your retail property’s development.
An essential consideration when obtaining a construction loan is the development’s exit strategy. Repayment of the loan is typically achieved through the proceeds from securing standard financing or through the sale of the property. Having a clear and well-defined exit strategy is crucial to ensure a seamless transition from the construction phase to the next stage of your retail property’s lifecycle.
In addition to the exit strategy, we consider various critical factors when evaluating funding for retail property development. These factors include the borrower’s experience, net worth, and liquidity, as well as the location and quality of the site. Our goal is to provide you with a comprehensive financing solution that aligns with your unique circumstances and supports the success of your retail property venture.
To explore your options and determine the best course of action for securing a common-sense mortgage, we encourage you to speak with one of our knowledgeable advisors. We are here to provide expert guidance and assist you in finding the ideal financing solution for your retail property development needs. Contact us today to get started on realizing the full potential of your retail property project.
