GGD Oakdale, LLC #4622 | OREGON – FUNDED

Home/Funded Investments/GGD Oakdale, LLC #4622 | OREGON – FUNDED

GGD Oakdale, LLC #4622 | OREGON – FUNDED

First Trust Deed collateralized by a nearly 110,000 square foot shopping center in Gresham, OR (about 18 miles east of Portland, OR). The site is anchored by Walmart Neighborhood Market and has an overall vacancy of 27%. 25,000 square feet of the vacancy will be eliminated when the borrower acquires the site because he already has a gym ready to occupy the space in four months, once tenant improvements are completed. Another value creator that the borrower will be able to achieve is renewing the existing Walmart into a longer-term lease. With the current lease set to expire in 2022, a new 10-year lease will create significant value for the property.

Loan Amount: $8,000,000

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 extension period at maturity.

By |October 10th, 2019|Funded Investments|0 Comments