410 Jessie
Arranged construction financing for the condominium conversion of a 51-unit loft apartment building originally built in 1926 as a department store warehouse. Despite a slowing condominium sale market, the principals of Regency Capital Partners were able to explain that the Class A location, high-end finishes and excellent track record of the sponsor would make this project a success. With that RCP secured a 3 year construction loan of 77% of total project costs. Additionally, costly construction defects insurance was waived for the project saving the developer over $500,000.