The challenge
Turning a 66-Unit New Construction Portfolio Into Long-Term Financing in Just 17 Days
Most lenders turned this file away before they even started. A developer had just finished a brand-new 66-unit rental community—seventeen identical four-unit buildings delivered at once.
Roadblocks
The challenge was entirely tied to timing. Lease-up had only recently begun, meaning the rent roll was thin, but the construction loan balloon date left no runway for a gradual stabilization process.
Conventional lenders, bound by trailing income and full-occupancy requirements, declined to proceed. They wanted to wait for "perfect numbers." We didn't.
Conventional lenders, bound by trailing income and full-occupancy requirements, declined to proceed. They wanted to wait for "perfect numbers." We didn't.
Traditional approach
Wait for 90% occupancy and 3 months of seasoning. Result: Borrower defaults on construction loan.
Our approach
Underwrite stabilized market rents immediately. Result: Loan closes in 17 days.
Submit your deal for fast, market-based execution.
Brick City Capital specializes in DSCR financing for investors who value certainty.
We processed title, insurance, appraisal review, and credit in parallel—not sequentially. Every dataset moved together toward the hard deadline. The final structure reflected the income model built at the outset: a $6.681MM DSCR refinance, sized to 75% LTV. No retrades. No surprises.
how we executed
Market-based income
Underwrote stabilized market rents vs. partial in-place leases.
Unified process
Processed title & insurance for 17 parcels in parallel.
Construction exit
Funded in 17 days.
Meet the loan officer
"We sized it correctly on day one. That’s why we didn’t need to re-trade anything at the finish."
Jack Bergen
VP, Originations
View Jack's bio
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