Titan Funding provided $4,284,000 financing for SNP Properties to develop a proposed 255-unit mid/high-rise multifamily property.
BOCA RATON, FL, September 28, 2022 /24-7PressRelease/ — Florida based Titan Funding is pleased to announce it has financed the acquisition of a property with plans for a proposed 255-unit multifamily apartment building in a favorable area of Richmond, Virginia.
On August 31, 2022, Titan Funding, an exclusive, invitation only, mortgage lender based in Boca Raton, Florida, committed to provide financing for the acquisition of 200 and 216 E. Marshall St., Richmond VA. The one-acre corner lot, currently a surface parking lot, will be developed by SNP 200 E Marshall, LLC, an affiliate of SNP Properties. Titan Funding has arranged a loan of $4,284,000 for this development which will provide a mixed-use 12-story building with 255 residential units and approximately 10,000 square feet of commercial space – including a possible restaurant – in this desirable area of Richmond.
“We are delighted to have played a part in the development of this project by SNP Properties,” says Edward Piazza, President of Titan Funding. “It will offer much-needed accommodation in an attractive part of the city.”
The proposed development is in Jackson Ward, an historic neighborhood of downtown Richmond. The location is located west of the Governor’s Mansion, the City of Richmond Financial District and Shockoe Slip area, southeast of the Virginia Commonwealth University (VCU) area and north of the James River. The proximity of the VCU campus will make it of considerable interest to potential tenants. Regional access to the property is also convenient, lying as it does between the major arteries of I-95 and I-64, in an area serviced by Richmond International Airport.
The development will be one of the tallest, new-construction buildings in Jackson Ward and the largest project in SNP’s portfolio.
Titan Funding is a private money lender that gives both borrowers and investors a chance to maximize their financial potential. We are a team of banking professionals with decades of experience in the field. If you’re looking to invest in a private money lender, Titan Funding is a safer and simpler way to increase your money’s return on investment.
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