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Loan was used to refinance seller financing on property from 2005 acquisition.
Challenge - unentitled land where borrower was planning on developing a project with a large residential component made lenders nervous in a weak housing environment.
RFG's Solution - RFG was able to get the lender comfortable on the value of the land as a whole and on the developers plan to also include a large office/retail component that drives sales or residential lots.
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