Construction and Development Financing for CRE Developers
From land closing to certificate of occupancy. Ground-up construction loans, mezzanine capital, and forward commitments for multifamily, industrial, BTR, mixed-use, and commercial development across all 50 states. $2M to $100M and above. One broker who knows the full capital stack.
Financing by Development Type
Every development type carries a different risk profile, exit strategy, and lender universe. We match your project to the capital source that actually understands what you are building and why it pencils.
Multifamily and Apartment Construction
Ground-up garden, mid-rise, and high-rise apartment projects. Agency forward commitments available for projects meeting Fannie Mae or Freddie Mac criteria. HUD 221(d)(4) execution for larger projects seeking long-term fixed-rate takeout.
View multifamily construction programs →Build-to-Rent and SFR Communities
Horizontal BTR communities, cottage-style SFR neighborhoods, and townhome-for-rent developments. Lender appetite has expanded significantly as institutional capital has entered the BTR asset class. Debt fund and agency options both available.
View BTR financing programs →Industrial and Warehouse Construction
Speculative and build-to-suit industrial, last-mile logistics, cold storage, and flex R&D construction. Strong lender appetite driven by e-commerce demand. Debt funds and life companies active for pre-leased and spec product in primary markets.
View industrial construction programs →Office Conversion and Adaptive Reuse
Vacant office, department store, and obsolete commercial conversion to multifamily, mixed-use, or hotel. Specialized lenders understand the complexities of structural conversion, historic tax credits, and blended construction budgets.
View office conversion programs →Mixed-Use Development
Ground-floor retail with residential or office above. Horizontal mixed-use communities. Lenders evaluate the project by its dominant use and underwrite the secondary components separately. Proper structuring at origination prevents valuation disputes at completion.
View mixed-use construction programs →Self-Storage Development
Climate-controlled, drive-up, and boat and RV storage construction. Self-storage lenders focus on submarket supply analysis and absorption pace. Debt funds and regional banks are the most active construction lenders. Strong life company appetite at stabilization.
View self-storage construction programs →Senior Housing Construction
Independent living, assisted living, memory care, and continuing care retirement communities. Senior housing construction lenders require operational management expertise in addition to development track record. HUD 232 execution available for qualifying projects.
View senior housing construction programs →Commercial Condo and For-Sale Development
Medical office condos, retail condo, and mixed-use for-sale product. Lenders underwrite pre-sale contracts and absorption pace as the primary repayment source. Minimum pre-sale thresholds typically range from 30 to 50 percent before first draw.
View construction loan programs →How Construction Financing Works
A plain-language breakdown of how construction loans are structured, funded, and repaid, written by a broker who closes these deals across every major market.
The 5 Phases of a Construction Loan
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1
Land Close
The loan closes, funds are advanced for the land purchase or to pay off a prior land loan, and the construction budget is locked. The borrower typically brings 20 to 35 percent of total project cost as equity at close. The remaining proceeds are held in a future funding commitment and advanced via draws as construction progresses.
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2
Horizontal Development
Site work, grading, underground utilities, and infrastructure. This phase is often the most capital-intensive relative to visible progress, which can create friction in the draw process with lenders who rely heavily on inspectors. Experienced sponsors document horizontal work meticulously to avoid draw delays.
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3
Vertical Construction
Foundation, framing, skin, MEP rough-in, and interior buildout. Draw requests are submitted monthly as work is completed and verified by the lender's independent construction inspector. The inspector confirms the percentage of completion for each budget line item and approves the draw amount accordingly.
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4
Temporary Certificate of Occupancy
TCO is issued by the municipality, allowing occupancy to begin while minor punch list items are completed. For multifamily projects, lease-up begins at TCO. This is the trigger point for most forward commitments and the date from which stabilization timelines are measured.
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5
Stabilization and Takeout
Once the project reaches the stabilization threshold defined in the loan documents, typically 90 percent occupancy for a specified period, the construction loan is repaid via a permanent takeout loan (agency, life company, CMBS) or via sale. This is the planned exit the lender underwrites from day one.
Draw Schedule Basics
Construction loan proceeds are not distributed in a lump sum. Draws are advanced monthly based on completed work. The borrower submits a draw request with supporting documentation: AIA G702 payment application from the general contractor, lien waivers from the GC and all major subcontractors, and an updated budget showing the cost-to-complete. The lender's independent inspector visits the site, verifies progress against the draw request, and issues a report approving the draw amount. Most lenders hold back 10 percent retainage from each draw, releasing it at project completion. The draw process typically takes 5 to 15 business days from submission to funding, so borrowers need to plan their cash flow timing accordingly.
Interest Reserve: How It Works
An interest reserve is a portion of the construction loan budget set aside to cover monthly interest payments during the construction period. Rather than requiring the developer to make cash interest payments out of pocket, the lender advances interest reserve funds from the loan to satisfy the monthly interest charge. The reserve is sized based on the projected draw schedule and loan term, typically the construction period plus six months of buffer. If construction runs long and the interest reserve is depleted, the borrower must either fund interest from other sources or request a loan modification. Depleted interest reserves are one of the most common early warning signs of a troubled construction loan.
Construction-to-Permanent vs. Two-Close Structure
In a construction-to-permanent structure, the same lender provides both the construction loan and the permanent financing, with a single closing. The loan automatically converts to permanent terms upon reaching stabilization milestones. The borrower avoids a second closing cost but is locked into that lender's permanent product and rate. In a two-close structure, the construction loan and permanent financing are from different lenders, with a second closing at stabilization. Two-close deals allow the developer to shop the permanent market and execute a forward commitment with the best permanent lender, but carry refinancing risk if permanent market conditions deteriorate during construction. Experienced sponsors typically prefer two-close structures paired with a forward rate lock.
Common Reasons Construction Loans Fall Through
The most frequent deal killers in construction financing are: a sponsor track record that does not match the proposed project scale, a project budget the lender's cost consultant deems inadequate, an appraisal that does not support the as-completed value needed to justify the loan amount, a GC contract that lacks a guaranteed maximum price clause, an interest reserve that is undersized relative to the projected construction timeline, and an exit strategy that depends on market conditions the lender considers speculative. At Commercial Lending Solutions, we review all of these variables before going to market, which is why our construction transactions close at a significantly higher rate than those shopped to lenders without prior structuring work.
Closing Timeline for Experienced Sponsors
From a signed term sheet to closing, experienced sponsors with complete documentation typically close construction loans in 45 to 90 days. The most time-consuming elements are the appraisal (3 to 4 weeks minimum), environmental Phase I (2 to 3 weeks), the lender's independent construction cost review (2 to 4 weeks), and title and survey work. First-time construction borrowers or incomplete document packages should budget 90 to 120 days. Rushing the process by going to lenders before the project package is complete is the single most common reason for construction loan delays and lost deals.
What Lenders Want to See
Construction lending is relationship capital. Lenders approve the sponsor as much as the project. Here is what every institutional construction lender evaluates before issuing a term sheet.
Sponsor Track Record
- Minimum 2 to 3 comparable completed projects of similar type and scale
- Project summaries with dates, cost, number of units or square feet, and exit outcome
- Personal financial statements and net worth documentation for all guarantors
- Liquidity post-close equal to 5 to 10 percent of loan amount minimum
Project Feasibility
- Market study with absorption data and competitive supply pipeline
- Pro forma stress-tested at 5 to 10 percent below projected rents or sale prices
- Comparable sales and rental data supporting as-completed appraised value
- Entitlements in place or clearly defined path to approval
Equity and Capital Structure
- Equity contribution of 20 to 35 percent of total project cost at close
- Equity sources documented: sponsor cash, LP capital, preferred equity sources identified
- If land is already owned, as-is land value counted toward equity
- No equity gaps or capital calls left unresolved in the project budget
General Contractor and Budget
- Fixed-price GC contract with guaranteed maximum price (GMP) clause
- GC with verifiable track record on similar project types and scale
- Hard cost contingency of 5 to 10 percent of hard costs included in budget
- Budget covers all soft costs: permits, fees, architecture, legal, and financing costs
Exit Strategy
- Clear takeout path: agency, CMBS, life company, HUD, or sale identified at origination
- Forward commitment letter from permanent lender strongly preferred
- Stabilization assumptions conservative and defensible against market data
- Pre-sales or pre-leases in place for for-sale or built-to-suit product
Environmental and Due Diligence
- Phase I Environmental Site Assessment from a qualified environmental professional
- Phase II required if prior industrial use, dry cleaning, or recognized environmental condition found in Phase I
- Geotechnical report confirming soil conditions support the proposed structure
- ALTA survey with current legal description and easement disclosures
The Developer Capital Stack
Most institutional construction deals involve layered capital from multiple sources. Understanding how each layer interacts determines whether your project pencils and which lenders you can approach. CLS CRE sources all layers of the capital stack.
Forward Commitment: Locking the Permanent Rate at Construction Close
A forward commitment from an agency lender or life company allows the developer to lock the permanent loan interest rate at or before construction close, eliminating refinancing risk during the build period. The developer pays a forward commitment fee at construction close, and the permanent lender is contractually obligated to fund the takeout loan once the project hits the agreed stabilization thresholds.
Forward commitments are most available for multifamily projects qualifying for Fannie Mae, Freddie Mac, or HUD execution. Life company forward commitments are available for select asset types in primary markets. We negotiate the forward commitment terms simultaneously with the construction loan to ensure both layers close together on the same timeline.
CLS CRE Sources All Layers
Unlike most commercial mortgage brokers who focus exclusively on the senior construction loan, Commercial Lending Solutions has active lender relationships across every layer of the development capital stack. We source the senior construction loan, the mezzanine or preferred equity layer, the limited partner equity when needed through our LP introduction network, and the permanent takeout loan or forward commitment. Coordinating all layers through a single experienced broker eliminates inter-creditor conflicts, reduces closing timeline, and ensures the capital structure is buildable before you spend money on third-party reports.
Talk to a Developer Finance Specialist
Construction lending is not a commodity. The broker you work with determines which lenders see your deal, how your project is packaged, and whether your capital structure actually closes. Trevor Damyan brings CBRE and MMCC capital markets experience to every construction transaction, with direct access to debt funds, life companies, agency forward commitment desks, and mezzanine lenders who actively close development deals.
We review every deal at no cost before recommending a lender strategy. If the project does not pencil, we will tell you before you spend $50,000 on third-party reports. Send your deal to the address below or call directly.
Submit Your Project →Email your deal directly
loans@clscre.comCall or text
310.708.0690Construction and Development Financing Nationwide: What Developers Need to Know
Ground-up development is not a single loan event. It is a capital journey that moves through land acquisition, horizontal infrastructure, vertical construction, lease-up bridge, and permanent takeout, often representing three to five separate financing transactions before a project reaches stabilization. Understanding that journey, and knowing how to fund each phase efficiently, is the difference between a project that pencils and one that stalls in the entitlement phase with nowhere to go. Across every major market in the United States, CLS CRE works directly with developers to structure construction and development capital that matches project timelines, sponsor qualifications, and exit strategies from day one.
Why Developers Across the Country Rely on Specialized Construction Financing
Construction lending is a fundamentally different underwriting discipline than investment property financing. Lenders are not simply evaluating an asset that exists today. They are underwriting a business plan, a construction team, a fixed-price contract, a market absorption study, and a developer's track record of actually delivering comparable projects on time and on budget. Generic commercial mortgage products are not built for this. Construction loans are purpose-engineered to fund draws against a construction schedule, carry interest reserves that float with SOFR, and provide mechanisms for cost overrun protection and completion guarantees. Whether you are delivering a 300-unit garden-style BTR community in a Sun Belt suburb or a 200,000-square-foot speculative cold-storage warehouse in an infill industrial corridor, you need a lender and a capital structure designed specifically for ground-up risk.
Who Qualifies for Construction and Development Financing
Lenders across the country apply a consistent qualification framework for construction borrowers, and understanding it before you approach the market saves significant time. The core requirements include:
- Track record: Most lenders require a minimum of two to three comparable completed projects. Comparable means similar product type, similar project size, and similar complexity. A developer with completed multifamily experience will have a harder path to their first ground-up industrial project without a qualified co-developer or guarantor.
- Sponsor net worth: Lenders typically require sponsor net worth equal to or greater than the loan amount, with liquidity representing at least 10 percent of the loan as a floor.
- Carry liquidity: Expect lenders to verify six to twelve months of interest carry as accessible liquid reserves, separate from equity committed to the project.
- Project feasibility documentation: A third-party market study, executed fixed-price general contractor contract, and demonstrated absorption data for the subject product type are standard requirements at loan application.
- Deal size: Construction loans through CLS CRE's lender network are available from approximately $3 million for smaller infill projects up to $100 million or more for large-scale mixed-use and institutional-grade development.
How Construction Loans Are Structured in Today's Lending Environment
The 2026 construction lending landscape reflects the market disruption that followed the regional banking stress of 2023. Regional banks tightened underwriting standards and reduced leverage tolerance but remain active and competitive for experienced sponsors with strong balance sheets. Debt funds stepped into the gap and now represent a significant share of higher-leverage and non-recourse construction capital across the country.
Bank construction loans typically price at SOFR plus 250 to 400 basis points, carry 60 to 70 percent loan-to-cost, require full recourse, and fund over 12 to 24-month construction windows. Debt fund construction loans price at SOFR plus 350 to 550 basis points, offer 70 to 80 percent loan-to-cost, frequently accommodate non-recourse structures, and provide 18 to 36-month terms that give developers more runway on complex or phased projects. Nearly all construction loans include a funded interest reserve built into the loan structure, covering 12 to 18 months of interest payments so that developers are not forced to service debt from operating cash flow during the build period.
Two product categories are seeing particularly strong lender appetite nationwide right now. Multifamily development including build-to-rent single-family communities and mid-rise apartment projects in undersupplied markets continues to attract both bank and debt fund capital. Infill industrial development including speculative warehouse and cold-storage facilities is generating aggressive term sheets from debt funds that view industrial fundamentals as durable across most major logistics markets.
Market Context That Shapes Underwriting Decisions
Lenders underwriting construction loans in 2026 are paying close attention to three market-level variables regardless of geography. First, absorption pace for the subject product type in the target submarket must support the project's stabilization timeline. Second, construction cost inflation and labor availability in the local market affect budget credibility and contingency requirements. Third, the availability and likely pricing of permanent takeout capital at project completion is a core underwriting factor because lenders want a clear and realistic exit. This is where CLS CRE's dual-capital model creates direct value for developers. We maintain live relationships with life insurance companies and agency lenders who provide the most competitive permanent debt available once a project stabilizes. Locking in a forward commitment at construction close gives your project a defined cost of permanent capital before a single foundation is poured.
Construction Financing vs. Alternative Capital Structures
If an existing asset can generate the equity needed through a cash-out refinance or preferred equity raise, some developers avoid construction debt entirely on smaller projects. If a project is pre-leased or pre-sold to a creditworthy counterparty, some lenders will provide construction-to-permanent financing that eliminates the lease-up bridge event. For development-stage projects that are not ready for vertical construction, land loans and predevelopment facilities represent the appropriate first step. The right structure depends on your project stage, your balance sheet, your timeline, and your exit strategy. There is no universal answer, and that is exactly why working with a broker who has closed over one billion dollars in CRE transactions across all capital structures matters from the first conversation.
If you are planning a ground-up development project anywhere in the United States and need a broker who can access both construction capital and permanent takeout from a single point of contact, contact CLS CRE today. Reach us by email at loans@clscre.com or by phone at 310.708.0690 to discuss your project, your timeline, and your capital options.
Developer Financing FAQ
Answers from a broker who closes construction deals, not a content team. If your question is not here, call or email directly.
What is the minimum loan size for construction financing?
Most institutional construction lenders have a floor of $2 million, with the majority of active debt funds and regional banks focused on the $5 million to $100 million range. Life insurance companies and agency lenders (Fannie Mae, Freddie Mac, HUD) typically require $10 million or more. Projects below $2 million generally fall to local community banks or credit unions with portfolio lending capacity. CLS CRE works across the $2 million to $100 million and above range depending on asset type, market, and sponsor profile.
How many projects do I need to have completed to qualify for construction financing?
Most construction lenders require a minimum of two to three comparable completed projects in the sponsor track record. Comparable means similar product type, similar scale, and similar market. A developer with three completed multifamily projects can qualify for a fourth, but a developer whose only track record is single-family residential faces significant headwinds getting institutional construction debt for a 200-unit apartment community. Track record gaps can sometimes be bridged by partnering with an experienced co-developer or co-guarantor, or by engaging a third-party project management firm with a strong record.
Can I get non-recourse construction financing?
Non-recourse construction financing exists but is rare and reserved for the most experienced sponsors with the strongest projects in the best markets. The vast majority of construction loans carry full recourse to the sponsor during the construction period, with recourse burning off at stabilization or upon conversion to permanent financing. Some lenders offer completion guaranty carve-outs that limit recourse to the cost-to-complete rather than the full loan balance. Sponsors seeking non-recourse construction execution should expect to bring more equity, present a pre-sold or pre-leased project, or demonstrate an exceptional track record.
What is a construction loan draw schedule?
A draw schedule is the mechanism by which loan proceeds are disbursed to the borrower during construction. Funds are not advanced in a lump sum. Instead, the borrower submits a draw request, typically monthly, documenting completed work against the project budget. The lender sends an independent inspector to verify the work, confirms no mechanic's liens have been filed, and then releases funds. Most lenders hold back 10 percent retainage from each draw, releasing it upon project completion and lien waiver collection. The draw process typically takes 5 to 15 business days from submission to funding.
What is an interest reserve on a construction loan?
An interest reserve is a portion of the construction loan budget specifically allocated to cover monthly interest payments during the construction period, before the project generates any revenue. Rather than requiring the borrower to make cash interest payments out of pocket, the lender advances interest reserve funds from the loan to cover the monthly interest charges. The interest reserve is sized based on the loan amount, projected draw schedule, and the anticipated construction timeline. If construction runs long, the interest reserve can be depleted before the project stabilizes, which is one of the most common reasons developers find themselves in distress on construction deals.
What is a forward commitment for permanent financing?
A forward commitment is an agreement executed at or before construction close in which a permanent lender agrees to provide long-term financing upon the project reaching certain stabilization milestones, typically a minimum occupancy threshold held for a specified period. Forward commitments lock the permanent interest rate at construction close, eliminating refinancing risk during the construction and lease-up period. They are most common on multifamily projects where agency lenders (Fannie Mae, Freddie Mac) or HUD issue forward commitments. The cost is a forward commitment fee paid at construction close, but the rate certainty is often worth the expense in a volatile rate environment.
How long does it take to close a construction loan?
For experienced sponsors with complete documentation, construction loans typically close in 45 to 90 days from a signed term sheet. The most time-consuming elements are third-party reports (appraisal, environmental, geotech), title and survey work, and plan and cost review by the lender's independent construction consultant. Larger loans and institutional lenders tend to run toward 75 to 90 days. Regional banks and debt funds with streamlined processes can close in 45 to 60 days for repeat borrowers. Incomplete documentation, title complications, or budget disputes between the lender's cost consultant and the GC are the most common causes of delay.
What is the difference between a construction loan and a bridge loan?
A construction loan finances the ground-up development of a new building, with funds advanced in draws as construction progresses. A bridge loan finances the acquisition or repositioning of an existing asset, typically one that does not yet qualify for permanent financing due to occupancy, cash flow, or condition issues. Construction loans carry completion risk; bridge loans carry lease-up or repositioning risk. The lender approval process for construction loans is more complex and documentation-intensive due to the need to underwrite the construction budget, GC contract, and development timeline in addition to the land value and finished product value. Both loan types are short-term floating-rate instruments, but construction loans are generally priced wider due to the higher risk profile during the build period.
Construction Financing for CRE Developers: What You Need to Know
Commercial real estate development is a capital-intensive, timeline-sensitive business where the wrong financing structure can turn a profitable project into a distressed asset before the first tenant ever signs a lease. The construction lending market in 2026 is more bifurcated than it has ever been: experienced sponsors with institutional-quality project packages are accessing competitive terms from a wide lender universe, while developers with thinner track records or incomplete packages are getting declined or repriced at terms that make the project infeasible. Understanding how institutional lenders evaluate construction deals is the single most valuable piece of knowledge a developer can carry into a financing process.
Why Construction Financing Is Different From Every Other Loan Type
Permanent lenders underwrite existing cash flow. Bridge lenders underwrite the path to stabilization. Construction lenders underwrite something that does not exist yet. They are betting on the developer's ability to build a project to budget and on schedule, lease or sell it at projected rates, and exit the construction loan before it matures. Every variable in the underwriting model is a projection, not a historical fact, which is why lender confidence in the sponsor's track record is paramount and why construction loans carry full recourse in almost every case.
The construction loan is also the most operationally complex loan in commercial real estate. The lender is not a passive capital provider from closing to maturity. They review monthly draw requests, manage retainage disbursements, monitor the project's progress against the approved budget, and track the interest reserve balance. A lender who does not have the internal infrastructure to manage construction draws efficiently will slow down your project. Experienced sponsors specifically seek construction lenders with dedicated construction management staff, not institutions that underwrite construction loans as a side business.
The Lender Universe for Construction Financing
Debt funds represent the largest and most active segment of the construction lending market for projects in the $5 million to $75 million range. They move faster than banks, offer more flexible underwriting for complex deal structures, and are comfortable with leverage levels and project complexity that would exceed the risk appetite of most regulated lenders. The trade-off is pricing: debt fund construction loans typically carry floating rates in the SOFR plus 3.00 to 5.50 percent range depending on project risk, market, and sponsor profile.
Regional and national banks remain active construction lenders for experienced local and regional developers with existing banking relationships. Bank construction loans typically price tighter than debt funds but carry more restrictive covenant packages, slower approval timelines, and stronger personal guaranty requirements. Banks also face regulatory capital constraints that limit their construction loan concentration, which can slow down or restrict deals during periods of tighter credit standards.
Life insurance companies provide construction financing for select asset types, primarily multifamily, industrial, and senior housing, where the as-completed asset fits within their permanent loan programs. Life company construction loans are typically limited to sponsors with whom the company has an existing relationship and are almost always paired with a forward commitment on the permanent loan. They represent the tightest pricing in the construction market for qualifying projects but are the most selective and slowest to approve.
Agency lenders, specifically Fannie Mae and Freddie Mac, do not directly originate construction loans but do issue forward commitments that lock permanent financing terms at or before construction close. HUD's 221(d)(4) program provides both the construction financing and the permanent financing for qualifying multifamily projects, with 40-year fixed-rate terms and non-recourse execution available for experienced sponsors. HUD deals take 12 to 18 months to close but offer the most favorable long-term capital stack for large multifamily projects.
How to Structure a Competitive Construction Loan Request
A construction loan request that gets competitive term sheets starts with a complete, well-organized package. Lenders make faster, more favorable decisions when they do not have to chase the sponsor for missing documents. The package should include a detailed project narrative covering the market opportunity, the sponsor's experience, and the exit strategy; an itemized construction budget broken down by hard costs, soft costs, financing costs, and contingency; a development timeline from permit to TCO; a project pro forma with conservative lease-up assumptions; the executed GC contract or LOI with the selected general contractor; and the sponsor's personal financial statements, track record summary, and entity structure documents.
Sponsors who arrive with a complete package, a realistic project budget, and a defensible exit strategy will see term sheets in 3 to 7 days from active debt funds and 2 to 4 weeks from banks. Sponsors who submit incomplete packages or budgets that do not hold up to the lender's cost review will spend months in back-and-forth before either killing the deal or accepting inferior terms out of time pressure.
Market Conditions Driving Construction Lending in 2026
The construction lending market in 2026 reflects the broader dynamics of the commercial real estate credit cycle. Construction starts declined sharply from 2022 through 2024 as rising interest rates compressed development yields and made many projects infeasible. The resulting supply shortage, particularly acute in multifamily and industrial, has created strong fundamental support for new construction in most primary and secondary markets. Lenders who pulled back aggressively in 2023 and 2024 are now re-entering the construction market, with debt funds leading the recovery and regional banks following as regulators provide clearer guidance on construction loan reserves and concentration limits.
Material and labor cost escalation has moderated from the peak levels of 2021 and 2022, but hard cost budgets remain significantly higher than pre-pandemic baselines. Sponsors who have not re-priced their development proformas against current construction costs are underwriting projects at budgets that will not survive lender cost reviews. Working with a broker who actively closes construction deals and has current, market-specific cost data is a meaningful advantage in getting from term sheet to funding without budget surprises.
Why Working With a Developer-Focused Broker Matters
At Commercial Lending Solutions, we work exclusively with developers and investors on complex capital markets transactions. We do not originate permanent loans for stabilized assets as a loss leader to get in front of construction borrowers. Construction financing, mezzanine placement, and full capital stack advisory for ground-up development is a core part of our practice, and we have active lender relationships across every segment of the construction lending market.
When you bring a development project to CLS CRE, we review the project package before going to market, identify the lender universe that fits your specific asset type, market, and sponsor profile, and structure the capital stack to maximize proceeds while keeping the debt service coverage achievable at stabilization. We negotiate the forward commitment simultaneously with the construction loan when applicable, and we coordinate the mezzanine or preferred equity sourcing if the senior construction loan leaves a leverage gap.
If you are working on a ground-up development project anywhere in the United States and need a construction loan, mezzanine capital, or full capital stack advisory, contact us directly at loans@clscre.com or call 310.708.0690. The first conversation is always at no cost, and we will tell you honestly whether the project is financeable at your target capital structure before you engage third-party reports.