Copyright © 2004 Frankel Financial Corp.

$8,320,000 180 Acres Raw Land - Texas

Description: A recent borrower was having an extremely difficult time obtaining financing for his land development project in Dallas, Texas.  His broker had spent over six months trying to secure a loan to no avail until he was referred to Frankel Financial Corp. where he successfully obtained financing.  The subject property consisted of 180 acres of raw land and the borrower had parcels already pre-sold to other developers for residential and commercial development.  The purchase price was $12,800,000 and there was no income generated by the property.   

Solution: Frankel Financial Corp. secured financing for this borrower at a 65% loan to value, non-recourse, and with the seller holding a note for the balance.  FFC’s resourcefulness allowed the borrower to finance the whole project without any capital infusion.

455 Pennsylvania Avenue Suite 2LF • Fort Washington, PA 19034
(215) 641-9700 • (215) 641-0498 • info@frankelfinancial.com