Situation:

Asset Based Lending recently financed a hard money blanket loan for the new construction of two single family homes in Tampa, Florida. Though this is their first deal with ABL, the borrower team is exceptionally experienced having completed over 10 new builds in the last couple of years. The subject properties will both be identical 1353 square foot single family homes with 3 bedrooms and 2 bathrooms. The investors plan to pay off this hard money construction loan in approximately 6 months when the properties are completed and sold.