Commonwealth Development announces an outstanding preferred equity investment for multifamily development projects. The company is determined to facilitate a garden-style multifamily project with different units for investors being a brand that is always after quality, standard and convenient life for its clients and investors alike.
Commonwealth Development can arrange preferred equity for investors to be built multifamily projects. One of our preferred equity sources is based on using a certain HUD Lender who extends the first mortgage construction to permanent loan. This is designed to establish an easy yet workable preferred equity for multifamily development projects.
Residents of our multifamily development project will have the opportunity to indulge in luxurious amenities. This simply means that the projects will have an expansive state-of-the-art convenience, with great outlook and spacious rooms. Based on this lender’s involvement, here are the major deal points for the Investor to bring the preferred equity:
- Preferred Return is 8.0% pari passu for both parties on their capital.
- They allow a market-rate development fee in the project.
- They invest in the project at the closing of the construction loan.
- Contact us today to discuss how we can assist in completing your MultiFamily Development project’s capital stack!
“This project is designed to help provide more apartment units to the family and American’s workforce by providing additional capital to projects to get off the ground,” said Tim Sasfransky.
Investors can bring up to 90% of the Equity Investment after the 80% Loan to cost HUD Loan. Furthermore, with this Preferred Equity for MultiFamily Development Project, developers are expected to bring the other 10%, which can include equity in the land. Commonwealth Development is using the department of Housing and Urban Development (HUD) to ensure and promote homeownership among families in all income brackets. As part of the core mission of Commonwealth Development. Splits are 60% to the Investor and 40% to the Developer.