NICK IS GIVING HIS COMMUNITY MORE AFFORDABLE HOUSING OPTIONS

Borrower Stories | Washington, DC | February 2023

Nick’s journey into real estate investment has had lots of twists and turns. Born in Sparta, Greece, Nick was raised in Montgomery County, Maryland where he lives today. As a young adult, Nick worked in IT as a project manager but segued into real estate in 2003 and has worked primarily as an agent for most of the last 20 years.

More recently, however, Nick’s restless and entrepreneurial spirit sent him in search of yet another career evolution, and he began investing in properties directly as well.

It was a particularly challenging project that brought Nick to Spring Garden Lending. He was trying to purchase a property while working with another lender who kept changing the terms of the financing. Then he heard Spring Garden Lending’s ad on the radio while listening to The Sports Junkies morning drive show on 106.7 The Fan. Impressed with what he heard, he contacted Sarah Massey from our DC office.

Immediately Nick sensed that Spring Garden Lending’s approach is different than other lenders. For him, the biggest difference was speed and the ability to set terms and stick to them. He got a term sheet on his first deal within 24 hours and was able to close on those same terms less than three weeks later.

In Nick’s own words, “Sarah is phenomenal. Who’s ever heard of a lender showing up for both the appraisal and the closing? Now she is crunching the numbers to provide me critical information for options on how I want to handle my next deal.”

What’s next for Nick? He says, “I am always looking for the next deal(s) and Spring Garden Lending will be top on my list when putting together the financing. I value my new relationship with Spring Garden Lending…it’s so much more than just lender and client.”

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Developers like Nick in the DC market are working hard to provide good, affordable housing options for renters and homebuyers trying to make ends meet. Spring Garden Lending supports these developers with quick closings and rapid draws that are at the core of our 100% of construction financing. We have our customers’ backs every step of the way.

Greg Goldstein, Senior Vice President, DC Market Director