First Trust Deed collateralized by a 4-acre parcel of land located in the scenic city of Kalispell, MT. Kalispell provides a unique opportunity for multifamily developers, being situated between three major destinations: Whitefish Ski Resort, Bigfork, and Glacier National Park, which are all major drivers of the local population. The borrower has already spearheaded three multifamily projects in the area and is now turning his attention to this current project, his fourth overall. This project stands out from his others as it will cater towards the luxury market, which is expanding as the greater Kalispell area continues to grow. This project will consist of three duplex units and ten fourplex units, averaging roughly 1,600 sf for each duplex unit and 1,200 sf for each fourplex unit.
Master Loan Amount: $10,400,000
Yield: 10% 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 10.5%.
Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 4/7/26.
