Ethos was exclusively engaged by Hurley Development, a vertically integrated real estate firm, to source debt and equity for a 274-unit, garden-style multifamily project on a 10-acre site.
Due to the size of the project, traditional relationship lenders were not a fit. Ethos identified and secured a $48 million construction loan from a national bank, representing 60% loan-to-cost, with a favorable sub-300 basis point spread and limited recourse.
Ethos also arranged $32 million in joint venture equity from a global real estate investment firm, structuring a 95/5 co-investment. This strategic execution fully capitalized the project and enabled the sponsor to move forward with construction on time.
Ethos Services
Associated Team Members
- Daniel Natsch
- Senior Managing Director, Partner
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- Matthew Illias
- Senior Managing Director, Partner
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