Active developers are not only faced with financing development costs on on-going projects, but they are constantly looking for other development opportunities. Madison Capital Group's financing experts have worked with many of our long-term clients by providing pre-development financing to cover soft costs such as:
- Option or earnest money payments on a purchase and sale contract,
- Legal, architectural, planning and other consulting fees,
- Feasibility studies,
- Obtaining permit approvals,
- Making applications,
- Securing construction and financing commitments, and
- Marketing costs - in the case of condominium developments.
Madison Capital Group works with various capital sources, which understand the pre-development and development process. Madison works with these capital sources to ensure that they are comfortable underwriting the developer, the development concept and the risk associated with pre-development loans. Some of Madison's pre-development capital sources become so comfortable with Madison's clients and their developments that the capital sources remain involved in subsequent stages of the development.