Available Investments

Home/Available Investments

Lokal Communities, LLC #4649 | COLORADO

The collateral for this loan consists of 22 developed townhome lots located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 22 lots are part of a larger 221 lot community know as Victory Ridge which the borrower acquired part of about a year ago. Townhomes will average 1,500 square feet in size with an anticipated sales prices averaging $330,000. All of the lots encumbered by this loan have partially built homes on them that are about 50% complete and will be finished by July. Lokal Homes has the option to purchase the remaining lots within Victory Ridge and are slated to do so in the coming months. Directly to the north of the property is a newly opened Icon Cinema in a growing “Interquest corridor”. Loan Amount: $6,000,000 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: Nine months with an optional nine-month extensions at maturity.  

FIG Laguna Farms, LLC #4648 | IDAHO

The collateral for this loan is nearly 25 acres of land that consists of 312 partially developed townhome lots located in Nampa, ID (approximately 19 miles west of Boise, ID). Most of the 312 units are presold as investment properties to the borrower’s clients. Since acquiring the site, the borrower has completed approximately 80% of the development of the first phase. The individual buyers will pay off this loan as they each acquire construction financing. The first construction loan is expected to be ready in July of 2020 with all the lots expected to be paid off by the end of the year. Loan Amount: $6,400,000 Term: Nine months with an optional nine-month extension at maturity. 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.

Rhino Holdings Nampa, LLC #4647 | IDAHO

First Trust Deed collateralized by an approximately 250,000 square foot lifestyle center in Nampa, ID (about 22 miles west of Boise, ID). Current tenants in this mall include national brands such as Big 5 Sporting Goods, Ross Dress for Less, and Jo-Ann Fabric as well as many local tenants. Since acquiring the site in May of 2019, the borrower demolished over 110,000 square feet of indoor shopping area to convert the mall into a regional lifestyle center. Part of the money will pay off the existing loan and part of it will go towards the remaining work that needs to be completed. The money earmarked to complete the site includes money for the parking lot, tenant improvements for on one of the largest remaining vacancies, and an out-parcel needs to be built that is already mostly preleased. The parking lot work will begin immediately while the tenant improvements and outparcel work is not slated to begin for a few weeks. Loan Amount: $13,600,000 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: Nine months with an optional

Vita Watt Southern, LLC #4640 | ARIZONA

The collateral for this loan is 17.76 acres of land on the Southwest corner of 59th Ave and Southern Ave in Phoenix, AZ (approximately 10 miles southwest of downtown Phoenix, AZ). Since the borrower went under contract to acquire the site in August, they have successfully worked with the city to approve a 199-unit apartment complex. Of the 199 units, 28 are studio apartments (14%), 54 are one bedroom (27%), and 117 (59%) are two-bedroom units. The borrower anticipates receiving their grading permit and construction loan in six months, at which point the loan will be paid off. The construction loan for this project will go towards the total project cost of $41,000,000. Loan Amount: $4,100,000 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: Nine months with an optional nine-month extension at maturity

loading