Acquisition and Development Loans (A&D Loans)
Hi BP, I was approached by a few lenders/brokers recently that I trying to push A&D Loans (Acquisition and Development Loans). I have never utilized this type of loan vehicle and wanted to see if anyone has used a A&D loan for their development project? I was told that these type of loans are for acquiring property and for entitlement cost to get a project approved. This would be used for commercial development deals that require going through the entitlement process. Does anyone have an experience with this? Almost sounded too goo to be true but would have to be the right project with enough room in the deal.
Appreciate it!