Harmony19, LLC | Loan #4003 – FUNDED
Description: First Trust Deed collateralized by 69 partially developed single family lots located in the Silhouette Community which is in Las Vegas, Nevada. These lots are only partially finished since only the grading has begun. These 69 lots are part of a larger 98 lot community that is located near the Southwest corner of Fort Apache and Wigwam Avenue, just north of the rapidly growing Mountain’s Edge Community. The community is also just a few miles away from the recently opened water park in Las Vegas, NV. As it currently stands, the lots have not been assigned assessor’s parcel numbers (APN’s). The final APN’s will be assigned once a final map is approved which won’t happen before the loan records.
HWD Spring Creek Cove, LLC | Loan #4055 – FUNDED
Description: First Trust Deed collateralized by approximately 5.18 acres of undeveloped land and two homes located in Murray, Utah (approximately 10 miles south of Salt Lake City, UT). The land is currently slated to be developed into 17 single family residential lots. The two homes that are being acquired in addition to the land will be torn down to make room for the 17 lots. Once the final map is approved, the borrower will seek additional financing for the development work. The anticipated cost to complete all of the development work is one and a half million dollars. Home in the community are anticipated to sell in the high $400’s.
