Land Loan – Bridge
Sold

Land Loan – Bridge

Western, US

$2,500,000

Western, US

 

Funding Purpose

Bridge loan secured by entitled land for working capital purpose to facilitate venue reopening after forced Covid closure.

Property Description

6.11 acres of excess entitled land of larger 15 acre parcel, situated in an opportunity zone. Property is zoned and entitled for mixed use retail/multifamily development.

Sponsors

Experienced developer and operator of multi location family entertainment venues.

Challenges

  • Covid Forced Temporary Closure
  • Las Vegas Lan

Solutions

  • Emphazied Sponsor Pre Covid Tranck Record
  • Emphazied Op Zone Status
  • Structure 50% Payoff On Sale of Excess Land

Funding

  • Loan Amount (LTV): $2.500.000
  • Interest Rate: 9%
  • Amortization: Interest Only
  • Term: 12Mo + 1x6 Mo Option
  • Recourse: None
  • Interest Only: 12MoPrepayment: 6 Mo Interest
  • Term: 24- Month hold


Deryl Deese

Deryl Deese

TITLE

Senior Director | Capital Advisor

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