The collateral for this first position trust deed is 15 acres of a 25-acre master planned community that will be known as Modera Village. This is the borrower’s second of three purchases from the seller that will ultimately house Modera Village, a 700 plus unit “stacked townhome” community. The community will have 23 four story, 28 and 42 plex buildings with dog parks, playgrounds, a basketball court, club houses, and pools.
Loan Amount: $4,000,000
Yield: 12% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 12.5%.
Term: Nine months with an optional nine month extension at maturity. Final maturity date is 7/23/23.
