Phoenix Care Partners, LLC #4635 | ARIZONA – FUNDED

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Phoenix Care Partners, LLC #4635 | ARIZONA – FUNDED

First Trust Deed collateralized by a partially completed, 17,790 square foot geriatric behavioral hospital near the Maricopa Freeway and 7th Ave which is approximately 2 miles southwest of downtown Phoenix, Arizona. The facility will have 20 client units with a total of 40 rentable beds. Directly across from this 1.003-acre site is an Urgent Psychiatric Care Center that pairs well with the borrower’s intended use. Since acquiring the site, the borrower successfully obtained the desired zoning change to allow the construction of this facility and has begun construction on the site. As of January 2020, the borrower was almost finished with the demo of the interior of the building. It is anticipated the facility will be completed and operational by the end of 2020. Once the building is operational, it will be managed by ERS1 Management who is led by Ron Stewart. The management team has a combined experience in the senior healthcare arena of over 150 years.

Loan Amount: $6,800,000

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: 9 months with one optional nine-month extension period at maturity.

 

By |January 9th, 2020|Funded Investments|0 Comments
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