First Trust Deed collateralized by a 2,364 sq/ft building in Lamar, Colorado. Colorado is the 6th fastest growing US state and Lamar is the largest city in southeastern Colorado. This quaint city offers a small-town atmosphere. Lamar’s median household income increased more than 10% from 2021 to 2022. This property is located on Highway 287/ Main Street which offers the most visibility in the town. The borrower intends to build a freestanding restaurant and Arby’s has already signed a lease to occupy the entire building. Construction has started as of July 2024 and is expected to be completed in the second quarter of 2025. The franchisee for this Arby’s location has also done numerous build-to-suit locations with this developer before, some of which were in the same town of Lamar, CO.
Master Loan Amount: $2,400,000
Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%.
Term: Nine months with an optional extension at maturity. Final maturity date is 12/19/25.
