T-Max Lending LLC closes seven figure loan to Real Estate group.
- Jackson Valerie
- Oct 16, 2023
- 1 min read
October 16, 2023
T-MAX Lending LLC is pleased to announce that it just successfully closed a $19,000,000 CRE loan to a real estate development group on a prime location in Hempstead NY. This loan was funded as a “follow on” debt placement on a $3,500,000 CRE loan that was funded by a syndication of T-MAX Lending LLC investors this past February. This new loan was funded by one of T-MAX Lending LLC private investors and the loan is secured by an additional mortgage on the sixteen acre parcel in Hempstead NY.
The developers are well ahead of schedule on the construction process of the development and have already secured multiple signed leases from several national tenants and other regional tenants who will occupy the property upon the completion of the construction. In fact, since the construction of the development began several months ago, the price per square foot that the tenants will be paying for their space has increased substantially from the inception due to a high level of interest in the development along with strong demand among the potential interested tenants.
