overview

REAL ESTATE PROJECT FINANCING

Thistle Creek Capital (TCC) offers creative solutions for real estate developers and builders seeking to simplify the financing process. Regulator pressure on traditional lenders has led to inefficiencies in the real estate funding market. TCC simplifies and expedites this process.

TCC offers real estate and construction programs for several sectors, including land acquisition and development, residential development, office and general commercial, multi-family and apartments, retail, and hospitality. Loan programs include bridge loans, acquisition and development, construction, all-in-one, mezzanine financing, distressed asset acquisition, and others.

Loan Amount: $1.2m
Apartments
Houston, TX

Loan Amount: $2.3mm
Townhomes
Denver, CO

Loan Amount: $2.6mm
Light Industrial
Bluffdale, UT

Loan Amount: $4.1mm
Single-Family Subdivision
Tooele, UT

Loan Amount: $4.7mm
Apartments
Provo, UT

Loan Amount: $5mm
Apartments
Draper, UT

Loan Amount: $10.6mm
Mixed-Use
Austin, TX

Loan Amount: $13.9mm
Light Industrial
Morrison, CO

Loan Amount: $24mm
Apartments
Boise, ID

Loan Structuring

TCC loans permit borrowers to use capital for refinancing, acquisition, construction, restructuring, and project soft costs. Where appropriate, TCC structures loans with an interest reserve, which allows borrowers to forgo debt service payments if the project is not cash-flowing. TCC may also structure a loan with a construction reserve, allowing borrowers to submit progress draws as the project progresses.

Lending Criteria

Loan Size: $2-20 million

Term: Up to 18 months

Funding Timeline: 1-3 weeks

Draw Processing: 2-5 days after receipt of pay applications and supporting backup

Underwriting

TCC underwrites loans considering the completed value of a project. The TCC underwriting process includes evaluating project documents and market conditions, a review of the title report and entitlements, and an assessment of the borrower and sponsorship team. The TCC underwriting process allows for efficient decision-making and expeditious project funding.