Loan amount
$10,000,000
Loan type
As-Is Property Value
$13,000,000
LTV
77%
{LTV}
Property type
Land
Borrower Details
Credit score
679
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
New Mexico
Loan Details
Additional Loan Information
Complete the purchase of a significant plot of property/land which is centrally located in Carlsbad, New Mexico. The main purpose and usage for this property is to provide a significant amount of storage solutions for numerous companies seeking oil storage facilities and capabilities. A number of companies have already reached out to us in reference to this service. Exclusive purchase rights has been given to us on this property and LOI’s can be provided upon request. We are seeking 100% finance based on this deal, the appraisal value and the significant profits to be made. Our preference is no upfront money required but full repayment including interest within an agreed upon timeframe. The property appraised for 13 million. Already in contract. 5 year loan term.
Status
Closed
Created
June 16, 2020 - 10:34am
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