Goodyear 49, LLC #5367 | ARIZONA – FUNDED

The collateral for this loan is a 4.6 net acre site in Goodyear, AZ. The project will consist of 47 attached residential townhome units. All units will have three bedrooms and two and a half bathrooms ranging from 1,690-1,801 square feet. The modern looking townhomes will be constructed as a “build-to-rent” townhome project. The finished project will operate like an apartment complex but will be built with individual townhome units allowing the buyer of the property the flexibility to sell off individual units when they see fit. Metro Phoenix is home to about 5 million people where net migration continues to fuel its growth. Over the past two decades, Phoenix has grown by nearly 100,000 people every year. Phoenix’s relatively young population with the age cohort 25-34 containing the largest percentage of residents (about 15%) are ideal purchasers/renters for the entry level townhomes. The buyer has been approached by multiple equity firms to purchase the finished product when each of the buildings are completed.

Master Loan Amount: $18,312,000

Yield: 10% interest Schedule: 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 two optional nine-month extension at maturity. Final maturity date is 6/1/24.

By |March 15th, 2022|Funded Investments|0 Comments