Quote:
Originally Posted by tjp
^ Right. Some construction loan agreements will require a certain level of leasing / sales before funding, but I highly doubt that's the case for this development considering it already has an anchor tenant.
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Certainly, pre sales are a requirement in a for sale project. Like all lenders, Apartment lenders want to be fully repaid, and you don't get repaid by not having a finished building, so there is very little incentive to not fund (unless of course the developer is in default).