Residential Condominiums

Washington County, RI

Clubhouse Capital secured $5.0 million in development and construction financing for the developer of this 100-unit residential condominium project located just off Interstate Route 95 in Rhode Island’s South County region. The project is comprised of a mix of 8-unit and 6-unit buildings. Sales pricing and absorption exceeded the original projection by 20%, necessitating a larger construction line and expedited completion of all project infrastructure. The loan allows for the commencement of additional spec buildings given the demonstrated pace of sales and pre-sales, and funded 100% of all site costs and 80% of all building construction. (Spring 2017)