THE LOT LOAN CYCLE
Four Simple Steps to Development
Reach out to any Spire Residential Team Member to discuss current or future projects. Our team will discuss financing options, timing, and provide detailed questions and checklist of items needed to underwrite each project.
With over a combined 50 years of real estate and development experience, our team will work with you to review the project, plans, and budgets, providing direct feedback and finding the best tool in the Spire Residential portfolio to finance suitable projects.
Once review is complete, Spire Residential will issue a term sheet. From issuance of term sheet, Spire can close within 30 days, provided all require materials have been delivered and approved. Spire works to ensure acquisitions occur on time.
The loan may be closed, but the work is only beginning. Spire Residential actively manages all loans in our portfolio, ensuring efficient and timely servicing of draw requests. Our Asset Managers aim to be non-intrusive, while assisting with the development process.