Redevelopment financing
What sort of debt products are available for a currently stabilized, phased, repositioning? Detail below:
- Stabilized Multifamily Product
- Intend to redevelop by strategically taking buildings down and simultaneously operating the other buildings at the asset. Occupant drops to around 70% at the low point over a 24 month redev.
Two things to note: would need debt at close, then when redevelopment starts in 18 months, need construction debt.
Not quite sure of what the question is because I wouldn’t think of it as a “product” because this is a bit of a specialized loan. Is redevelopment multifamily? You mention “24 month redevelopment”, is that just for construction…ie stabilization will take longer? Just trying to figure out the term, sounds like a minimum of 40 months prior to stabilization.
Bridge loan
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