Case Study
Regional Real Estate Developer
A regional real estate developer was unable to close on a construction loan for a mixed use development project located within a FEMA-designated Special Flood Hazard Area (SFHA) in California. At the last minute, the lender identified that the building is within a SFHA and required the developer to factor into his financial projections the purchase NFIP flood insurance during construction. The capitalized value of the NFIP premium was goin