Max Benjamin Partners Among New Breed of Lenders Bailing Out Commercial Builders
As an increasing number of developers are finding it difficult to secure loans from banks and other traditional lenders, many are turning to alternative funding sources to keep their projects alive.
MBP specializes in both debt and equity placement and provides some of the most creative and efficient capital solutions for commercial real estate developers and investors.
The firm is run by Max B. Mellman,
a dynamic leader who is growing MBP at an ambitious pace.
According to the National Association of Home Builders, 71.7% of banks have imposed stricter guidelines for construction and land development loans, while 63.3% of banks tightened standards on loans secured by multifamily properties in the second quarter of this year compared with last.
"Given the tightening of credit by traditional lending institutions, debt funds, private investors and insurance companies have emerged as the go-to source for capital and reaping the benefit," says Mellman, who started MBP and in 2018.
"A great number of developers in our industry who've been solely reliant on their relationship bank are looking elsewhere to capitalize their projects.
This creates the need for a seasoned advisor more than ever." MBP has been able to help developers all across the country complete their projects including: SAN DIEGO, CA - MBP helped a developer secure a $17.4 million bridge loan for a student housing project near SDSU campus.
MBP is currently helping the developer secure additional funding to build phase two of student housing.
EUGENE, OR - MBP secured a $33,900,000 loan to complete the final phase of a single-family home project that the developer couldn't get elsewhere.
HOUSTON, TX - MBP helped a developer of 25 homes priced $350k$475k in Mission, TX secure a $9 million loan needed to complete the project after the bank refused to lend additional funds.
"Our sources are diverse and include family offices, private equity groups, hedge funds, and other nontraditional lenders." Max Benjamin Partners is a prominent real estate investment bank that specializes in capitalizing commercial real estate developments and acquisitions of all asset classes.
Find Out More At https://www.mbpartners.com/