Available Investments - Ignite Funding

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Rhino Holdings Roseville, LLC #6438 | MICHIGAN – ($3.2M AVAILABLE)

Rhino Holdings Roseville, LLC #6438 | MICHIGAN – ($3.2M AVAILABLE)

First Trust Deed loan collateralized by one parcel containing an At Home superstore in the Macomb Mall located in in Roseville, MI. Roseville is located on the scenic shores of Lake St Clair which is one of the biggest sport fishing locations in the great lakes while offering many other recreational activities as well. Roseville is approximately 20 miles north of Michigan’s largest city, Detroit, and shares many of the same top industries including automotive, health services, and more. The subject property covers 91,363 sf (2.1 acres) and is one of the anchors of the Macomb Mall which spans more than 933,000 sf (21.4 acres). Other anchors within the Macomb Mall, which has been open since 1964, include Dicks Sporting Goods and Kohls with the Macomb Mall as a whole containing 59 storefronts. The borrower plans to acquire this facility and extend the current tenant, At Home, which will both increase the NOI of the property and stabilize it for the next 10+ years. Master Loan Amount: $5,100,000 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

By Ignite Funding|November 19th, 2024|Available Investments|0 Comments

Grays Development Company, Inc. #6221 | COLORADO – ($900K AVAILABLE)

Grays Development Company, Inc is a special purpose entity created by the principals of Lokal Homes. Lokal Homes is owned, managed, and operated by Coloradans with over 50 collective years of home building experience. Colorado is home to their entire team and provides them with a unique perspective on the market, product, and highest level of customer commitment. Lokal Homes has doubled the number of homes built nearly each year since inception and is now ranked a top 10 privately owned builder in Colorado. Along with building homes, Lokal Communities is the townhome building arm of Lokal Homes. Since 2015, Ignite Funding has lent Lokal and its affiliates over $212,000,000 without any issues.. Master Loan Amount: $7,000,000 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 10/13/25.

By Izzy|April 16th, 2024|Available Investments|0 Comments

Villas at 75th, LLC #6050 | ARIZONA – ($450K AVAILABLE)

The collateral for this loan consists of approximately 7.4 acres of multifamily zoned land in Phoenix, AZ. The current owner purchased the property a few years ago and worked with the proper government officials to get the site approved for a 112 unit attached residential community. The homes will be developed and ultimately constructed in two phases. The development work will begin around January of 2024. Even prior to the completion of the horizonal development work, the borrower and their general contractor will begin the vertical construction of the units. It is anticipated that the whole project will be completed in approximately 24 months. Subsequent tranches of this loan will be used to complete all 100 units of this project. All units are three bedrooms with 3 bathrooms covering 1,400 square feet of living space each. Master Loan Amount: $11,800,000 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 two optional extensions at maturity. Final maturity date is 3/25/26.

By Izzy|December 12th, 2023|Available Investments|0 Comments