QuickDraw Awarded New Project In Phoenix, First Construction Loan For Freedom Financial Funds
In early October, construction broke ground on a new commercial project in Phoenix, Arizona. QuickDraw Fund Control is providing Inspection and Fund Control services for this exciting and beautifully detailed development.
The team at Jacor Partners, L.C. is behind the construction of a commercial center located at 7th Street and Claremont a growing, up and coming corridor. The new building will feature restaurant space on the bottom floor and office space above. That office space will be home to Jacor Partners, L.C., while the first floor will be leased out to a future tenant. We are pleased to be working with them again, our second project together.
QuickDraw is especially excited to work together with the group at Freedom Financial Funds, LLC. Our wonderful relationship and work history will serve both the Lender and Client well.
For the newly formed Freedom Financial Funds, this project represents the first construction loan in their portfolio. This is an exciting milestone and we are humbled that they chose to work with QuickDraw Fund Control. Construction loans are our specialty, and they know we have the expertise, knowledge and an experienced team to reduce risk and provide superior service.
During Due Diligence, a Cost Review was performed prior to loan closing, helping to verify the sufficiency of the Construction Budget.
Throughout the build cycle, QuickDraw will provide monthly Inspection Reports to Freedom Financial Funds. The professional photographs and detailed reporting helps them see and verify construction progress.
Our Fund Control procedures ensure that the work is completed before we approve the Draw Request and funds are released to the Borrower.
This latest project is one of the several that QuickDraw Fund Control has recently taken on in the Phoenix area, along with other major developments throughout California and several western states. The growth in recent years has been amazing, and we look forward to working with exceptional lenders like Freedom Financial Funds on future projects.