Carneros Village (Leander, Texas) – This 240 unit project had a previous borrower who lost funding immediately prior to initial closing in October 2016. The new borrower acquired the land, the plans, the commitment, and the rate lock. In a single month, Premier MFC: revised the construction budget, helped redesign the plans to make the project more cost effective, and changed the property from a 65bps 221d4 project to a NGBS Bronze Standard 25 bps 221d4 project. The project closed in December 2016.
Legend Phase II
Legend Phase II (Waco, Texas) – Premier MFC played a pivotal role in the development of the 120 unit project from the land acquisition to the initial closing. This included negotiating rents and expenses with the lender and appraiser to secure a more appropriate loan sizing than originally allocated, as well as engaging the design consultants.
Residences at Panther Hollow
Residences at Panther Hollow (Marble Falls, Texas) – Premier MFC played a key role in the completion of the development from land acquisition to initial closing. This included reallocating line items in the loan budget to utilize the debt more efficiently in order to avoid the need for additional capital. This project is 200 units.
Discovery Park (Denton, Texas) – Premier MFC held a lead role in the completion of the development from land acquisition to initial closing. Designed site plan to accommodate public road that ran through the center of the site. This project is 283 units.
Rocket Apartments (Durango, Colorado) – Premier MFC played a pivotal role in the development of this 194 unit project from land acquisition to initial closing, including negotiations with neighboring landowners for pro rata sharing of tap/impact/road fees.