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Verus Commercial Real Estate Finance was approached by an active investor in the Brooklyn area looking to obtain financing on a renovation and conversion to condominium project. The Sponsor was looking for proceeds to finance the remaining cost of renovation and complete the project of a single-family townhome to a two-unit condo building.
Verus Commercial Real Estate Finance worked with the Sponsor to arrange a 12-month term and include a renovation budget to complete the remaining work.