Bullhead Care, LLC #4594 | ARIZONA – FUNDED

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Bullhead Care, LLC #4594 | ARIZONA – FUNDED

First Trust Deed collateralized by a partially completed, 14,787 square foot geriatric behavioral hospital in Bullhead City, AZ which is approximately 100 miles southeast of Las Vegas, Nevada. The facility will have 14 client units with a total of 24 rentable beds. Directly across from this 3.57 acre site is an adult day care facility 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 as well as began construction on the site. As of January 2019, the borrower was almost finished with the framing of the building. It is anticipated the facility will be completed and operational by the end of 2019. 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: $5,600,000

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: 9 months with one optional nine-month extension period at maturity.

Video Footage – Site Visit 1.24.19

By |February 28th, 2019|Funded Investments|0 Comments