First Trust Deed collateralized by 25 finished lots of a residentially zoned property in the growing city of Colorado Springs, CO which is approximately 70 miles south of Denver, CO. Located near the cross streets of Centennial and Fillmore, the property is just nine miles to the south of the Colorado Springs Air Force Academy and under ten minutes from downtown Colorado Springs and Garden of the Gods. The surrounding area is seeing immense residential and commercial growth including national quick service restaurants and over 300 apartment units constructed by different builders. Of the 105 lots in the community, the 25 lots being encumbered by this loan represent all remaining unbuilt lots. These lots will each have an attached townhome product built that will be one of five floorplans: Baxter, Clark, Conrad, Ellis, and Sean.
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 nine-month extension at maturity. Final maturity date is 5/6/26.
