Skip to main content

CoreVest Launches Investor-Geared Build-to-Rent Program

Jul 16, 2018
CoreVest has announced a new loan program, Build-To-Rent Complete

CoreVest has announced a new loan program, Build-To-Rent Complete, that is tailored specifically for build-to-rent investors. Build-To-Rent Complete provides construction financing for the development of new rental properties along with long-term financing once projects are completed and stabilized. CoreVest is offering this program to seasoned investors across the U.S. with loan sizes ranging from $3 million to more than $25 million.
 
“Investors now have a reliable one-stop solution to finance their build-to-rent projects,” said Ryan McBride, Chief Operating Office of CoreVest. “Our Build-To-Rent Complete program is an easy, scalable financing program for experienced developers. We provide certainty of funding not only during the construction of build-to-rent properties but also long-term financing once projects have been stabilized.”
 
CoreVest has already financed more than $200 million in stabilized build-to-rent projects and the Build-To-Rent Complete program is a natural product extension. In June, CoreVest committed over $20 million in financing for multiple new build-to-rent projects in North Carolina and Texas. Funds are being used to construct new single-family homes, as well as townhomes to rent. Once completed, CoreVest will provide long-term take-out financing for the stabilized projects.
 
“Build-to-rent is rapidly becoming a meaningful part of the single-family rental market,” said Beth O’Brien, CoreVest’s Chief Executive Officer. “We know many investors who are pursuing this strategy in response to the strong demand from renters. Our Build-To-Rent Complete program is another example of us listening to the market and being first to develop loan products that are relevant to investors. Whether it’s bridge financing for large multifamily projects, long-term loans for single family rentals, or Freddie Mac loans, we can offer borrowers a range of attractive financing solutions. Regardless of the product, we pride ourselves on being flexible, timely and the lender that our customers can grow with.”


 
About the author
Published
Jul 16, 2018
More from
Tech
Figure Launches TBA Market For Non-Agency Loans

Currently handling only HELOCs, Figure Connect has new products coming soon, says Chief Capital Officer.

Jun 12, 2024
Fidelity National Financial Names Jason Nadeau As Chief Artificial Intelligence Officer

Nadeau joined Fidelity National Financial in 2018, serving as Chief Digital Officer

May 23, 2024
Planet Home Lending Welcomes New Executive Vice President And Chief Information Officer

Bill Shuler brings a diverse background in IT leadership and mortgage consulting to the role

May 21, 2024
Automation Attracts Investors Who Love Homogenous Loan Pools

Human-free underwriting promises to expand primary and secondary, non-agency markets

May 02, 2024
Raising An Ai Brainchild In The Mortgage Industry

Angel Ai takes on the next five years with a new ‘do and functions to boot

May 02, 2024
NAR Partners With SoFi

NAR members and their clients can receive exclusive rates and discounts on mortgages, student loan refinancing and personal loans.

Apr 09, 2024