Rhino Holdings Olympia, LLC #4577 | WASHINGTON

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Rhino Holdings Olympia, LLC #4577 | WASHINGTON


First Trust Deed collateralized by an approximately 5,000 square foot retail building in Olympia, WA (about 67 miles southwest of Seattle, WA). This single-tenant building is one of three outparcels of a larger 99,600 square foot retail center. The only tenant in this freestanding building is Izzy’s Pizza which has been occupying the space since 1989. In addition to this asset, the borrower is acquiring two adjacent retail centers that total 167,000 square feet of space over nearly 15 acres of land. After acquisition of the entire project, the borrower will begin to sell each of the buildings individually, unlocking additional value by selling smaller parcels.

Loan Amount: $1,710,000

Yield: 12% 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 an optional nine-month extension period at maturity.

By |December 5th, 2018|Available Investments, Blog|0 Comments