Harmony Homes Texas, LLC | Loan #4111 – FUNDED
Description: First Trust Deed collateralized by roughly 5.6 acres of residential land located in Roanoke, Texas which is about 30 miles northwest of Dallas, Texas. The site is tentatively approved for 35 single family detached homes. The borrower acquired the site in June of 2013 with the anticipation of developing the site in order to build homes. Over the course of the year, the borrower has decided to sell their Texas division and is currently under contract to sell this asset. This loan will encumber the last remaining holding the borrower has in the state of Texas. The anticipated closing date is in September of 2014 but this date is subject to change.
Richard Redden Homes, LLC | Loan #4112 – FUNDED
Description: First Trust Deed collateralized by approximately 0.26 acre tract of land located in South Jordan, UT (approximately 18 miles south of Salt Lake City, UT) near shops and amenities for a potential homeowner. The borrower has already submitted building plans to the city for the final review of a 2,679 square foot, one-story home. There will be four bedrooms and two and a half bathrooms on the main floor. In the unfinished basement, there will be plumbing installed for two additional bathrooms and four additional bedrooms. This would be a total of eight bedrooms and five bathrooms.
