The non-recourse construction loan had a 2-year term, with two 6-month extension options and achieved an 86% loan-to-cost.
NEW YORK, NY, August 05, 2025 /24-7PressRelease/ — Trinity Street Capital Partners (TSCP) (www.trinitystreetcp.com), a real estate finance company, announces the origination of a $61MM non-recourse construction loan for the development of a 250 unit, class A, market rate multifamily property located in Charleston, SC. The non-recourse construction loan had a 2-year term, with two 6-month extension options and achieved an 86% loan-to-cost. TSCP continues to expand its construction lending programs, throughout the United States, as many lenders curb their construction programs as a result of non-performing loans or the Federal Reserve holding interest rates higher for longer than expected.
The Charleston project will offer (156) one-bedroom & studio units, (70) two-bedrooms, (10) three-bedrooms, in (8) four-story, residential buildings on 10 acres. Amenities will be located on the first floor and will include administrative / leasing offices, club room lounge with full-service kitchen, fitness center, yoga room, business center and game room. The community will also feature a swimming pool with surrounding sundeck, poolside cabanas and grilling areas, indoor / outdoor sitting area with fireplace, playground, dog park and nature path.
The economy of Charleston is anchored by tourism, logistics, aerospace, and information technology. The city is home to the Port of Charleston, one of the busiest in the United States, which significantly contributes to regional trade and economic activity. Boeing and other major employers have established a strong aerospace presence, while its growing tech industry has led to the nickname “Silicon Harbor”. Culturally, Charleston is renowned for its well-preserved architecture, historic landmarks, rich Gullah heritage, alongside vibrant culinary, music, and arts scenes.
Trinity Street Capital Partners focuses on non-recourse, high leverage senior & subordinate non-recourse commercial mortgages, construction loans and real estate private equity, with investments starting at $10MM on income producing retail, office, industrial, multifamily, manufactured housing communities, self-storage and hospitality properties, located throughout the fifty states.
For more information about Trinity Street Capital Partners and the services it provides, go to www.trinitystreetcp.com.
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