Tzortzis Capital
    Multifamily Construction Loans
    Up to 85% LTC

    Multifamily Construction Loans

    Ground-up multifamily construction financing for 5+ unit apartments, up to 85% loan-to-cost.

    The Problem We Solve

    Bank construction lending for multifamily collapsed to 55–65% LTC after the 2023 regional banking stress, leaving sponsors with shovel-ready projects unable to close their equity gap. We arrange mezzanine debt and preferred equity alongside bank and debt-fund construction lenders to complete capital stacks that bring sponsors back to a workable 80–90% capitalized basis.

    Who This Is Built For

    • Sponsors building 5–500 unit garden, podium, or wrap apartment projects
    • Repeat sponsors with at least one ground-up multifamily delivered in the last 5 years
    • Joint ventures of GP sponsor + LP equity needing a bank or debt-fund construction lender
    • Developers transitioning a maturing land loan into a vertical construction facility

    Program Terms

    First-Lien Loan-to-Cost
    Up to 75% (debt only)
    Combined Loan-to-Cost
    Up to 85% with mezz / pref equity
    Loan Size
    $5M – $150M first-lien
    Term
    24 – 42 months, interest-only
    Recourse
    Recourse, partial recourse, and non-recourse
    Min DSCR (stabilized)
    1.20x – 1.30x

    How the Process Works

    1

    Sponsor screen

    Sponsor résumé, GC, equity stack, site control, entitlement status, and pro forma.

    2

    Term sheet within one week

    We size the first-lien piece, identify the mezz / pref gap, and circulate to our lender bench.

    3

    Diligence package

    Appraisal, market study, environmental, geotech, plans, GMP contract, equity commitments.

    4

    Close & monthly draws

    Close in 6–10 weeks. Monthly draws against AIA G702/G703, lien releases, and engineer sign-off.

    Multifamily Construction in Your Market

    We place multifamily construction loans in every active U.S. growth metro. Pick your market for local terms, comps, and capital climate.

    Tampa, FLOrlando, FLJacksonville, FLMiami, FLDallas, TXFort Worth, TXHouston, TXAustin, TXSan Antonio, TXPhoenix, AZTucson, AZCharlotte, NCRaleigh, NCNashville, TNKnoxville, TNAtlanta, GACharleston, SCGreenville, SCSalt Lake City, UTProvo, UTBoise, IDLas Vegas, NVReno, NVDenver, COColorado Springs, COBoise, IDMeridian, IDCoeur d'Alene, ID

    Frequently Asked Questions

    Bank and debt-fund construction debt is sized to 65–75% LTC depending on market, sponsor, and stabilized DSCR. Combined with preferred equity or mezzanine, sponsors typically reach 80–85% of total project cost on capitalized basis. We arrange the full stack rather than just the first-lien piece.

    Other Developer Programs

    Up to 90% LTC
    Spec Home Construction
    Up to 85% LTC
    Luxury Spec Home
    Up to 85% LTC
    Build-to-Rent
    $1M+ minimum
    Land Acquisition & Site Development
    Up to 60% LTC
    Horizontal Development

    Discuss a Multifamily Construction Deal

    Submit your project. We'll respond within 24-48 hours with indicative structure and next steps.

    Start Your Funding Conversation

    We typically respond within 24-48 hours.

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