Loan amount
$18,500,000
Loan type
Purchase
{Construction}
After Repair Value
$40,000,000
{PP:$9,000,000}
ARV
46%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
750
Deal experience
40 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Port Aransas
State
Texas
Loan Details
Purchase price
$9,000,000
Down payment
$500,000
Cost of improvements
$10,000,000
Estimated property value after repairs
$40,000,000
Additional Loan Information
Acquisition & Horizontal development of 104 SFH lots in southern Texas. Sponsor has completed several communities in the state.
Status
Open
Created
February 5, 2024 - 7:33pm
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