Nebo Capital Closes $2,800,000 Loan for Luxury Home Development in Southern California

Nebo Capital recently closed a $2,800,000 loan for the acquisition of land for the spec development of two ultra-high end (16,000 sqft+) single family homes in a very exclusive neighborhood of Southern California. This was a very challenging deal because of the unique nature of the development and the borrower being a foreign national that could only show a limited amount of financial information to support the recourse due to international taxation complications. Nebo was able to identify a BANK that understood the complexities of the transaction, worked around the borrower's tax concerns and provide bank rate financing for a deal that at a first glance would require hard money. The same institution is prepared to provide construction financing of approx $10M upon completion of design and receipt of permits.