T
rinity Street Capital Partners (TSCP) has originated a $61 million non-recourse construction loan in Charleston, SC. The 2-year loan, with two 6-month extension options, achieved an 86% loan-to-cost ratio.

    This transaction marks TSCP's expansion of its non-recourse construction lending programs, which now offer up to 85% of project costs. As many lenders scale back their construction programs due to non-performing loans and higher interest rates, TSCP continues to provide financing opportunities for developers across the US.

    The Charleston project will feature a 250-unit class A multifamily property with various amenities, including a swimming pool, fitness center, and business center. The city's economy is driven by tourism, logistics, aerospace, and information technology, making it an attractive location for investment.

    TSCP specializes in non-recourse commercial mortgages, construction loans, and real estate private equity investments, with a minimum investment threshold of $10 million. Its services cater to income-producing properties across various sectors, including retail, office, industrial, multifamily, and hospitality.