Horizontal Construction for SFR Lots in Spanish Fork, UT

horizontal construction loan in Utah

Project Description

Broadmark Realty Capital is providing the borrower with funds to acquire the subject land and subsequently complete horizontal improvements to create 20 build-ready, single-family rental (SFR) lots. The intention is to fund vertical construction once the lots are completed.

The subject is an 8.66-acre vacant land parcel located in Spanish Fork, Utah. Upon the completion of horizontal improvements in this phase, the 20 finished single-family rental lots will range in size from 10,000 to 16,496 square feet. Spanish Fork is an upscale rural community in the mountains southeast of Utah Valley. This is generally called the Provo-Orem metropolitan area and is approximately 45 miles south of Salt Lake City.

Loan Details

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Spanish Fork, Utah

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February 2021

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$2,000,000

Contact Information

Matt Hittson, Central Region

Tom Gunnison, Central Region

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