Izzy, Author at Ignite Funding

Gallery
Mosaic Seven, LLC #5230 | NEVADA – FUNDED

Mosaic Seven, LLC #5230 | NEVADA – FUNDED

The collateral for this loan is a two and a half-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $2,640,000 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 4/27/23.

By Izzy|October 15th, 2021|Funded Investments|0 Comments

Gallery
Mosaic Seven, LLC #5229 | NEVADA – FUNDED

Mosaic Seven, LLC #5229 | NEVADA – FUNDED

The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas prodevelopment city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site Loan Amount: $2,640,000 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 4/27/23.

By Izzy|October 13th, 2021|Funded Investments|0 Comments

Gallery
Gilbert Care, LLC #5228 | ARIZONA – FUNDED

Gilbert Care, LLC #5228 | ARIZONA – FUNDED

The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. Loan Amount: $7,300,000 Yield: 10% interest rate 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.

By Izzy|October 4th, 2021|Funded Investments|0 Comments

Gallery
Mosaic Seven, LLC #5224 | NEVADA – FUNDED

Mosaic Seven, LLC #5224 | NEVADA – FUNDED

The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $2,842,000 Yield: 10% interest rate 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 4/2/23.

By Izzy|September 28th, 2021|Funded Investments|0 Comments

Gallery
Bel Canto Utah I, LLC #5223 | UTAH – FUNDED

Bel Canto Utah I, LLC #5223 | UTAH – FUNDED

The collateral for this loan is an approximately 9.33-acre site that will be entitled to allow for the construction of a 237-unit, four-story apartment complex. With a unit mix of 36 studio’s, 107 one-bedrooms, and 94 two-bedroom units, the project is geared to smaller units focused toward the more cost conscience renters. With final plat approved in July of this year, the borrower is in the process of getting final general contractor pricing for the build job which will put them in a position to get construction financing. Loan Amount: $3,408,000 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 3/26/23.

By Izzy|September 16th, 2021|Funded Investments|0 Comments

Gallery
Rhino Holdings Schaumburg, LLC #5222 | ILLINOIS – FUNDED

Rhino Holdings Schaumburg, LLC #5222 | ILLINOIS – FUNDED

The collateral for this loan is a 54,641 square foot, vacant office building siting on a 2.1-acre site. Since acquiring the site earlier this year, the borrower has remedied the deferred maintenance to better position the property for an end user. Although the four-story office building was previously a single tenant office building, the floor plan is conducive to transition into a multi-tenant property. Originally the borrower intended to lease the property before selling it however it will now be sold as-is. The property will be auctioned in November with an anticipated close in December. The auction site expects the property to sell for $1,200,000. Loan Amount: $850,000 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 3/20/23.

By Izzy|September 9th, 2021|Funded Investments|0 Comments

Gallery
Rhino Holdings Village, LLC #5221 | WASHINGTON – FUNDED

Rhino Holdings Village, LLC #5221 | WASHINGTON – FUNDED

The collateral for this loan is an approximately 5.78-acre site that is currently divided into five separate parcels with nearly 80,000 square feet of rentable space. These five separate parcels were built in 1963-1965 and consists of one large inline retail shopping center, three retail pads, and two apartment buildings. Although the project is nearly 80% leased, the lack of capital improvements to the site in many years has made it very hard to rent much of the remaining space. Our borrower plans to demolish the two apartment buildings and two retail pads to make way for two new drive through retail pads. With the two new drive throughs and the deferred maintenance resolved, the unleased space should quickly be absorbed with national tenants. Current tenants include Grocery Outlet, Kitsap Credit Union, New American Funding along with many local tenants. Loan Amount: $14,000,000 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 3/28/23.

By Izzy|September 9th, 2021|Funded Investments|0 Comments

Gallery
Green Level West II, LLC #5220 | NORTH CAROLINA – FUNDED

Green Level West II, LLC #5220 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 10-acre site that will be entitled to allow for the construction of a 74-unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract which will total over 40 acres. Since the purchase of this land happened before it was fully entitled, the borrower used Ignite to acquire the property while continuing the entitlements on the whole 40 acres of land. The other two properties the borrower has under contract will not close until the entitlement process is completed which is currently estimated to be in June of 2022. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire on their master plan to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. The borrower for this loan is working alongside Duke Health to get the two projects combined into one master plan which will increase the property’s value given the economies of scale. Loan

By Izzy|August 30th, 2021|Funded Investments|0 Comments

Gallery
Gold Rock, LLC #5219 | ARIZONA – FUNDED

Gold Rock, LLC #5219 | ARIZONA – FUNDED

The collateral for this loan consists of 24 acres of land in Cave Creek, AZ (approximately 40 miles north of Phoenix, AZ). These 24 acres are planned to be part of a larger 800+ acres on the side of “Gold Mountain”. With amazing views of Phoenix to the south and mountains to the north and east, the project is what the Phoenix, Scottsdale market has been missing. In the Northern Scottsdale area near the location of this property, estate sized lots with multi-million-dollar homes are very common. The difference between what will be developed on this site compared to what already exists in the area is “hillside living”. The borrower, Shaded Horizons, is an expert in the field and it is something that is not prevalent in the area. Over the next six months, the borrower intends to work with the city to get four lots approved on the acreage. It is also the borrower’s intent to acquire the surrounding 800+ acres to ultimately develop a whole master planned community. Right now, there is a partially paved road going through the property that will cost approximately $500,000 more to improve. With entitlement costs and other development costs, the borrower could

By Izzy|August 30th, 2021|Funded Investments|0 Comments

Gallery
Grays Development Company, Inc #5192 | COLORADO – FUNDED

Grays Development Company, Inc #5192 | COLORADO – FUNDED

First Trust Deed collateralized by a 7.5-acre parcel of a residentially zoned property approximately 70 miles south of Denver, CO. Located near the cross streets of Centennial and Fillmore, the property is just nine miles to the south of the Colorado Springs Air Force Academy and under ten minutes from downtown Colorado Springs and Garden of the Gods. The surrounding area is seeing immense residential and commercial growth including national quick service restaurants and over 300 apartment units (being developed by different builders). The entitlement will allow for the development and ultimate construction of 105 townhome lots, all of which are under contract to be sold to Lokal Communities. The sale is structured where the buyer must acquire a minimum of two units per month starting in June of 2022 Master Loan Amount: $7,612,500 Yield: 10.00% 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. Final maturity date is 2/9/23.

By Izzy|August 30th, 2021|Funded Investments|0 Comments

Izzy

About Izzy