Available Investments

Home/Available Investments

Vita Watt Elliot, LLC #4636 | ARIZONA

The collateral for this loan is 22.51 acres of land near the Northeast corner of 59th Ave and Elliot Rd in Phoenix, AZ (approximately 15 miles southwest of downtown Phoenix, AZ). Since the borrower went under contract to acquire the site over a year ago, they have successfully worked with the city to approve a 249-unit apartment complex. Of the 249 units, 38 are studio apartments (15%), 62 are one bedroom (25%), and 149 (60%) are two-bedroom units. The borrower anticipates receiving their grading permit and construction loan in six months, at which point the loan will be paid off. The construction loan for this project will go towards the total project cost of $46,000,000. Loan Amount: $3,800,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional nine-month extension period at maturity.  

Phoenix Care Partners, LLC #4635 | ARIZONA

First Trust Deed collateralized by a partially completed, 17,790 square foot geriatric behavioral hospital near the Maricopa Freeway and 7th Ave which is approximately 2 miles southwest of downtown Phoenix, Arizona. The facility will have 20 client units with a total of 40 rentable beds. Directly across from this 1.003-acre site is an Urgent Psychiatric Care Center that pairs well with the borrower’s intended use. Since acquiring the site, the borrower successfully obtained the desired zoning change to allow the construction of this facility and has begun construction on the site. As of January 2020, the borrower was almost finished with the demo of the interior of the building. It is anticipated the facility will be completed and operational by the end of 2020. Once the building is operational, it will be managed by ERS1 Management who is led by Ron Stewart. The management team has a combined experience in the senior healthcare arena of over 150 years. Loan Amount: $6,800,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional nine-month extension

Gold Rose Construction, LLC #4633 | NEVADA – FILLED

The collateral for this loan is an 8,536 square foot home located in Northern part of Las Vegas (approximately 18 miles northwest of downtown Las Vegas, NV). The home consists of 11 rooms, 4 bedrooms, and 4.25 baths. Additional features of the home include 3 fireplaces and an 8-car garage. The most important feature of the home is the 4.13-acre lot the home sits on. Most homes in this area are on half acre lots. Given the size of the lot, the borrower plans on working with the city to allow 4 lots to be built. If approved, this will unlock a considerable amount of value. Loan Amount: $1,600,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity.

Harmony Homes Nevada, LLC #4632 | NEVADA – FILLED

First Trust Deed collateralized by 8.08 net acres of land located near the Southeast corner of Lawrence St and Hammer Lane in North Las Vegas, NV (roughly six miles north of Las Vegas, NV). The community is well located near shops and amenities for potential homeowners. This parcel of land is going to piggyback off Harmony’s other community adjacent to this one, known as the Northridge Community. Northridge is about 70% completed and consists of 119 homes that average 1,700 square feet and are selling for an average of $290,000. This new community will consist of the same size homes and will sell for the same amount. It is anticipated that the borrower will begin the development in late summer and begin selling homes in this community late in 2020. Loan Amount: $1,508,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with one optional 6-month extension period at maturity.

Phoenix Tucson Retail Partners One, LLC #4626 | ARIZONA

First Trust Deed collateralized by a nearly 90,000 square foot shopping center in Tucson, AZ (about 120 miles south of Phoenix, AZ). The site is anchored by PETCO and has nine other tenants but has a total vacancy of 50%. The three freestanding single-story buildings are situated on over 10 acres of land that includes 450 parking spaces. Due to the current owner’s unwillingness and inability to spend additional money on tenant improvements, the property has seen the occupancy suffer over the past three years. As part of this loan, the borrower will receive over $1,000,000 for tenant improvements which will enhance the value of the project by reducing the vacancy of the property. The current listing broker has a few tenants that are looking to occupy the building. In addition to money for tenant improvements, there is about $1,000,000 that will be utilized to fix deferred maintenance and general capital expenditures to improve the overall site. Loan Amount: $4,700,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with two optional nine-month extension periods

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