The locally based company has $36.5 million in additional closing commitments and another $57.65 million of production under application. Still, the lending community isn't welcoming all borrowers these days, Findura acknowledges.

"Are lenders red-lining certain project categories? Most definitely," the broker tells GlobeSt.com. "We are seeing lenders who are reading the negative publicity about certain markets and reacting by reducing loan proceeds, utilizing more stringent underwriting criteria, or in certain cases, opting not to lend on a certain product type in a particular market."

Understandably, Findura points out, "Lenders with high concentrations of loans in markets receiving the most negative publicity are the least likely to lend again in that market."

In this confining arena, Findura's firm, a sister company to Tampa, FL-based R.J. Twitty Co. Inc., has still brokered and found financing for seven recent deals.

Among them: Trammell Crow Residential paid $6.4 million or $168,421 per acre ($3.87 per sf) for 38 acres in MetroWest for The Alexan, a planned 510-unit apartment building. Twitty arranged partial equity of $3.6 million between Crow and MONY and then helped Crow get a $38 million construction loan from Charlotte-based Bank of America.

Echelon Partners' $2.2 million purchase of seven acres in MetroWest for retail and hotel projects. The price equates to $314,286 per acre or $7.22 per sf.

Hoffman Partners bought 4.5 acres in MetroWest for four restaurant sites at $1.9 million or $422,222 per acre ($9.69 per sf). Epoch Properties and Prudential Life Insurance Co. bought 24 acres for multifamily development with Park Avenue Developers at $4.8 million or $200,000 per acre ($4.59 per acre).

Twitty wound up its 45-day spree by arranging a $5 million permanent loan through KeyBank for two Orlando industrial parks.

Instant Insights /

GlobeSt.com EXCLUSIVE: Twitty Closes $60 Mil in Deals in 45 Days

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