QuickDraw Fund Control Begins Work on Two Los Angeles Multi-Family Residential Developments
We are excited for our client, Partners Capital Solutions, who recently closed two Construction Loans on two different multi-family residential development projects in Los Angeles. QuickDraw has been tapped to provide Fund Control and Inspection Services for their new Borrower, Modative.
QuickDraw has worked on multiple projects with Partners Capital Solutions, Inc. throughout the past several years. In fact, we are working with them exclusively on more than 25 active construction projects throughout California, Arizona and Nevada. Quite simply, they have been a great lender partner.
This will be our first construction project with Modative. They are one of Los Angeles’ premier modern architectural firms. Their name is a combination of the Italian word “moda,” which means “a way of doing things,” and the word “innovative.” They are striving to incorporate modern ideas and design techniques into every project they are build.
“We are thrilled to be working with a great team of professionals at Modative and look forward to successful projects with new clients in the future,” says Greg Norris, President of QuickDraw Fund Control.
The two residential projects will each feature five units with contemporary designs. They are located in the diverse Palms and Highland Park neighborhoods of Los Angeles, and the new developments are expected to help in the revitalization of these up and coming communities.
Vertical construction has begun on both developments. The first Draws and their respective construction loan proceeds have already been processed, approved and funded. Quick Draw hit the ground running and will be ready when the next Draws are requested.
Working with Partners Capital Solutions, Inc. throughout the years has been truly fabulous and we hope to work more with Modative in the future. Their progressive style of thinking is a great fit with our own approach to fund control.
For more information about fund control solutions with QuickDraw Fund Control, contact us today.