In the realm of luxury real estate, a 2016 Howard Hughes-built tower faced remediation work due to defects by the general contractor. The Howard Hughes Corporation swiftly addressed the issues. With a $1,641,250 loan from Seattle Funding Group, time was of the essence, given competing offers and the urgency to secure financing in Honolulu, Hawaii. Strong collaboration between Mike Calvert, the sponsor, and Seattle Funding Group ensured a swift assessment and funding within weeks.
Key Highlights:
Synergy: Exceptional collaboration between broker, sponsor, and Seattle Funding Group.
Beachfront Luxury: A 2016-built Waikiki tower, offering oceanfront luxury.
Quick Close: Rapid financing was crucial, and Seattle Funding Group delivered.
Loan Purpose: The loan supports rental property investment.
Strong Borrower: The borrower’s significant cash investment in the deal.
Win-Win: A successful outcome benefiting all parties involved.
This deal exemplifies effective collaboration and swift action in resolving real estate challenges.
