Loan amount
$1,400,000
Loan type
As-Is Property Value
$2,600,000
LTV
54%
{LTV}
Property type
Residential development
Borrower Details
Credit score
725
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Indiana
Loan Details
Additional Loan Information
Operating 18 hole golf course with bar & restaurant and club house. Under contract now. We are re-purposing the back nine holes for 200+ residential homes. Front nine holes built out with $300,000 to $700,000 homes. Phase One will create 43 building lots with $1.7 million revenue. Engineering and site plan work completed. Seeking one year $1.4 development loan with lot releases on each sale. Our team is experienced. Property located in Santa Claus, Indiana.
Status
Closed
Created
June 16, 2020 - 2:35pm
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