Top 2024 Funded Investments
COMMERCIAL
RESIDENTIAL
SENIOR FACILITY
6325 KB Ash Fork, LLC
$24,000,000 principal balance funded over eight $3,000,000 tranches to fund the ground up construction of a truck stop in Ash Fork, AZ.
The loan was 100% preleased prior to originating the loan.
Personal guaranties from guarantors with net worths over $200,000,000 total
Low LTV of an advertised amount of 50% but when they put the project under contract the “real LTV” was 39%.
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6269 Keystone Ridge Investments, LLC
Ground up construction with a borrower that was going to pay off the loan via a refinance into a traditional loan by the maturity date.
The project was done faster than anticipated (three months instead of the anticipated five months) and under budget ($1,085,000 instead of the $1,400,000 anticipated).
These were classic “production homes” which made the speed and cost of the build fairly predictable, where any “surprises” usually come in the form of positive ones (like under budget and constructed quicker than anticipated).
All guarantors signed full recourse personal guarantees.
The borrowers contributed the land as equity to our loans meaning the loan to cost was low at 65%.
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5645 Yuma Care 2, LLC
The loan was to construct a similar project to one already successfully constructed by the borrower.
The property was presold prior to funding giving the project an ideal exit strategy.
The loan was 100% preleased with an assignment of rents clause allowing us to potentially access cashflow if the borrower defaulted on the loan.
The buyer had a nonrefundable deposit held at escrow prior to originating our loan.
The borrower was the general contractor which lowers the overall cost of the project.
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