Loan amount
$15,000,000
Loan type
As-Is Property Value
$40,000,000
LTV
38%
{LTV}
Property type
Single family home rental community
Borrower Details
Credit score
750
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
4257-unit approved community plus retail and commercial. Houses to be rented out. Located in the Lucerne Valley, near Victorville, CA. Immediate surrounding population 400k. Owner is open to a loan with participation or variations of a JV. Overall loan required is $30M that can be done in phases of $15M. The first phase to service the land and the second part to start construction of phase 1. The site is approved for that many units plus commercial. All that is needed is building permits. I am a broker representing my client.
Status
Closed
Created
February 5, 2020 - 9:35am
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