Build-to-Rent Loan – Beaverton, OR

The Opportunity

An Oregon builder who has held over 100 properties as rentals completed construction on a duplex in Beaverton, Oregon. The property was in an Opportunity Zone, which meant the builder could receive significant tax benefits by holding the property for at least 10 years. 

The builder had used Lima One to finance construction and sought rental takeout financing through a DSCR loan.

The Solution

Lima One provided a DSCR loan at 69% loan-to-value leverage, based on the $1.095M valuation for the duplex provided before construction. In addition to the certainty created reusing the appraisal, the builder also benefited from custom pricing on the rental loan because of his history of financing 30 properties with Lima One. Plus, no seasoning was required because of the internal refinance.

The builder now has permanent financing that allows him to hold the property and capitalize on the Opportunity Zone tax benefits. The builder continues to scale his business thanks to Lima One and especially the benefits provided by the Build2Rent® loan program.