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Lokal Registry Ridge Towns, LLC | Colorado (SOLD OUT)

The collateral for this loan consists of 43 fully developed residential lots located in Fort Collins, CO (approximately 60 miles north of Denver, CO). These 43 lots are part of the original 74 lots the borrower acquired. Since acquisition in 2018, the borrower has sold 31 of the homes. Remaining from the original 74 lots are seven single family home lots and 36 townhome lots. Homes in the community have been selling for about $400,000 for the townhomes and $550,000 for the single-family homes. Given the current sales velocity of three units per month, the borrower anticipates selling out of the community in roughly 14 months. Loan Amount: $2,734,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10% (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 an optional 9-month extension period at maturity.

GGD Oakdale, LLC #4815 | WISCONSIN (SOLD OUT)

First Trust Deed collateralized by an approximately 30,000 square foot single tenant commercial building occupied by Best Buy in Kohler, WI (about 50 miles north of Milwaukee, WI). Since the property was originally built in 2006, Best Buy has been the only tenant. Given the initial lease term is set to expire in 2023, our borrower was able to acquire the site via an online auction at a steep discount to intrinsic value. The seller, an affiliate of US Bank, took the property back via foreclosure of their $5,225,000 deed of trust. After the property was originally appraised for $6,600,000, the original owner made their monthly payments to the bank until 2017 at which point it went into a default status. As it currently stands, the Best Buy continues to pay over $30,000 per month in rent and is responsible for the building maintenance, property taxes, and insurance. Our borrower has already begun discussions with Best Buy to sign a new, long term lease. Once this is accomplished, he would then sell the property via more traditional avenues. Loan Amount: $2,450,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments

First Sloan Industrial Center, LLC #4813 | NEVADA ($31K AVAILABLE)

The collateral for this loan is 9.25 acres of land in Sloan, NV (approximately 20 miles south of Las Vegas, NV). The borrower is acquiring the property from a related entity which originally acquired the two separate parcels from two separate sellers. It is the intent of the borrower to work with the city to get the zoning approval for an industrial development. Once the zoning is approved, the borrower will obtain a construction loan for a 174,600 square foot industrial building. The principals of the borrower have worked in the industrial real estate sector of Las Vegas for a combined four decades. Loan Amount: $2,600,000 Yield: 10.50% (Principal Balance ≥ $100,000); 10.00% (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.

Delta Quad Holdings, LLC #4812 | Missouri ($2.3M Available)

The collateral for this loan is a 1.92-acre site that has a 21 story, 371,454 square foot building on it. Located in the heart of Kansas City, Missouri, the building which was originally constructed in 1921 as the headquarters of one of the twelve regional Federal Reserve Banks but has been vacant since 2008 when the bank moved to new offices. Since acquiring the property, the borrower has worked within the guidelines established for rehabilitating historic buildings. By working within the guidelines, there are some federal tax credits that the borrower will be able to obtain. Additionally, they have continued to work on the asbestos remediation on the property which is anticipated to be completed in a few months. According to the borrower, over $37,000,000 has been spent on the project to date. Loan Amount: $6,500,000 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.

Sequoia Homes, LLC #4810 | Nevada (SOLD OUT)

The collateral for this loan is an .98-acre lot located in the Northwestern part of Las Vegas (approximately 18 miles northwest of downtown Las Vegas, NV). Since acquiring the property in July of this year, they have worked with the city and county to allow for the construction of a home on the site. The building plans call for a 4,139 square foot home to be constructed. The home will consist of four bedrooms and four and a half bathrooms. The square footage does not include the four-car attached garage. Although the property is not presold, the borrower will engage a brokerage company to market the property for sale once the construction begins. Loan Amount: $680,000 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. Value: $1,240,000 based on a BPO done by Mosaic Commercial Advisors on 10/29/2020. LTV: 55% based off the BPO shown above.

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