Southampton, NY Titan Capital has funded a new loan secured by an acre of land situated on the waterfront of Shinnecock Bay. The borrower, an experienced Hamptons developer specializing in a high-end product, owned the property free and clear and was seeking a fast and reliable construction lender in order to finance the construction of its latest project, a top-of-the-line single-family home. Titan Capital’s familiarity with the Hamptons market and its experience in funding many similar luxury projects led to a smooth, hassle-free closing.
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.