Lokal BR7, LLC | #4569 – COLORADO – FUNDED

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Lokal BR7, LLC | #4569 – COLORADO – FUNDED

The collateral for this loan consists of 60 partially finished single-family residential lots located in Commerce City, CO (approximately 20 miles northeast of Denver, CO and 12 miles west of Denver International Airport). These 60 lots are part of a larger 151 lot community known as Buffalo Run Filing 7. Homes will be priced around $500,000 and will solely consist of single-story ranch style homes. Filing 7 is the last take-down within a larger community know as Buffalo Run that the borrower has already completed the development, construction, and ultimate sale of over 330 homes. The borrower has already begun construction on 35 homes within this last phase of the community. It is anticipated the borrower will completely sell out of the community within the next two and a half years.

Loan Amount: $4,380,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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 two optional nine-month extensions at maturity.

By |November 8th, 2018|Funded Investments|0 Comments