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Arizona

KB Ash Fork, LLC #6325 | ARIZONA – SOLD OUT

First Trust Deed collateralized by a 2,341,786 sq/ft (54 acres) parcel of land in Ash Fork, Arizona. Arizona has the 6th fastest growing economy in the US and Ash Fork is located just outside Flagstaff in central Arizona. Ash Fork offers a small-town atmosphere with the primary economic drivers consisting of wholesale trade and manufacturing. Ash Fork and the greater Flagstaff area continue to see favorable unemployment rates as well, with current rates around 2.4%. Which is well below the national average of 4.1% as of July 2024. This property is located on Highway 66 (I-40), which offers direct access for all vehicles passing through. The borrower intends to build a fully functional travel center occupied by Travel Centers of America via LV Petroleum. This travel center plans to have three QSRs within the location including KFC, Del Taco, and Sbarro Pizza. LV Petroleum has already signed a lease with Kingsbarn to occupy the entire building upon completion. Construction is currently in progress and is expected to be completed in the first quarter of 2025. The franchisee for this Travel Centers of America location has done numerous build-to-suit locations with this developer before, which has allowed for a prelease agreement

By |August 5th, 2024|Blog|0 Comments
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Goodyear 49, LLC #6298 | ARIZONA – ($500K AVAILABLE)

The collateral for this loan is a 4.6 net acre site in Goodyear, AZ. The project will consist of 47 attached residential townhome units. All units will have three bedrooms and two and a half bathrooms ranging from 1,690-1,801 square feet. The modern looking townhomes will be constructed as a for sale community instead of the “build-to-rent” model that is prevalent in Arizona. The wet and dry utilities are almost complete for the entire site. Goodyear was founded by the tire and rubber company to grow the cotton used for their tires. The company shifted their focus from cotton to real estate and land development in the 1960s. Metro Phoenix is home to about 5 million people where net migration continues to fuel its growth. Over the past two decades, Phoenix has grown by nearly 100,000 people every year. Phoenix’s relatively young population with the age cohort 25-34 containing the largest percentage of residents (about 15%) are ideal purchasers/renters for the entry level townhomes. Although it is not the intent to hold the property as a built to rent community, the buyer has been approached by multiple equity firms to purchase the finished product when each of the buildings are

By |July 2nd, 2024|Available Investments|0 Comments
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Encanto Partners QOF, LLC #5877 | ARIZONA – FUNDED

The collateral for this first position trust deed is a 15-acre site that is approved for medium density residential within a qualified opportunity zone (QOZ). Since putting the property under contract nearly a year ago, the borrower worked with the city to get additional zoning changes permitted and to get the property one step closer to being “shovel ready”. The property will eventually consist of 250 apartment style units in the form of townhomes as well as traditional stacked apartments. Given the location is in a QOZ, securing equity partners once the property is shovel ready should be easier than the 2,000 plus units the borrower has previously secured equity for. Loan Amount: $7,000,000 Yield: 10% interest Schedule: 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 1/5/25.

By |June 28th, 2023|Funded Investments|0 Comments
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Gilbert Care, LLC #5711 | ARIZONA – FUNDED

The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. The borrower is currently has a letter of intent with a potential buyer of what will be the behavior health facility. This is the same buyer that has already purchased another behavior health facility from the borrower in 2022. On the remaining 11.39 acres of land, the borrower has not begun finding potential suiters since they believe higher values will be generated after construction is nearing completion. Master Loan Amount: $20,000,000 Yield: 10% 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 additional nine month extension periods. Final maturity date is 6/27/25.

By |March 15th, 2023|Funded Investments|0 Comments
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Gilbert Care, LLC #5552 | ARIZONA – FUNDED

The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. The borrower is currently in discussions with a potential buyer of what will be the behavior health facility. It is the same buyer that has already purchased another behavior health facility from the borrower in 2022. Loan Amount: $8,000,000 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 no additional extension periods.

By |August 8th, 2022|Funded Investments|0 Comments
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Vanquish Capital, LLC #5403 | ARIZONA – FUNDED

The collateral for this first position trust deed is a 10.95 acres site that will eventually be developed into 165 townhome lots. Since putting the property under contract nearly 16 months ago, not only has the borrower “added value” by locking in their purchase price in a rapidly improving real estate market, but they have also added value by reducing risk in the project by getting the property fully entitled. Typically, FIG would sell each of the buildings to individual investors but have found one investor that wants the entire project. With that said, once the building permits are ready to be issued, the investor will close on the sale of the property and purchase it from FIG in one transaction. In the unlikely event the buyer falls out of contract, FIG’s regular investors will acquire individual buildings. Loan Amount: $3,250,500 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 11/21/23.

By |May 13th, 2022|Funded Investments|0 Comments
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FIG Development, LLC #5401 | ARIZONA – FUNDED

The collateral for this first position trust deed is 15 acres site that was approved by unanimous consent on 9/15/21 for the construction of a 302-unit townhome project which is laid out on the next page. Since putting the property under contract nearly 16 months ago, not only has the borrower “added value” by locking in their purchase price in a rapidly improving real estate market, but they have also added value by reducing risk in the project by getting the property fully entitled. Typically, FIG would sell each of the buildings to individual investors but have found one investor that wants the entire project. With that said, once the building permits are ready to be issued, the investor will close on the sale of the property and purchase it from FIG in one transaction. In the unlikely event the buyer falls out of contract, FIG’s regular investors will acquire individual buildings. Loan Amount: $7,640,600 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

By |May 6th, 2022|Funded Investments|0 Comments
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Goodyear 49, LLC #5367 | ARIZONA – FUNDED

The collateral for this loan is a 4.6 net acre site in Goodyear, AZ. The project will consist of 47 attached residential townhome units. All units will have three bedrooms and two and a half bathrooms ranging from 1,690-1,801 square feet. The modern looking townhomes will be constructed as a “build-to-rent” townhome project. The finished project will operate like an apartment complex but will be built with individual townhome units allowing the buyer of the property the flexibility to sell off individual units when they see fit. Metro Phoenix is home to about 5 million people where net migration continues to fuel its growth. Over the past two decades, Phoenix has grown by nearly 100,000 people every year. Phoenix’s relatively young population with the age cohort 25-34 containing the largest percentage of residents (about 15%) are ideal purchasers/renters for the entry level townhomes. The buyer has been approached by multiple equity firms to purchase the finished product when each of the buildings are completed. Master Loan Amount: $18,312,000 Yield: 10% interest Schedule: 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 extension

By |March 15th, 2022|Funded Investments|0 Comments
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Thunder Mountain by Bakerson, LLC #5247 | ARIZONA – FUNDED

This second trust deed is collateralized by a nearly 100,000 square foot, former Quality Inn hotel that has begun the transformation into a 65-unit apartment building. This apartment building will fill a void in the marketplace for market rate, workforce housing. Originally constructed in 1972, this block building has been operating as various brands of hotels and motels. Due to the pandemic and a multitude of macroeconomic events over the past few years, hotels have taken a bit of a hit forcing a consolidation in the industry. By converting the property into its highest and best use as an apartment building, it will bring new life and economic opportunity to the asset. After the conversion is completed, net rents are anticipated to be in excess of $300,000 annually. Loan Amount: $575,000 Yield: 13% 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 extensions at maturity.

By |November 8th, 2021|Funded Investments|0 Comments
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FIG Timber Woods, LLC #5237 – 5243 | ARIZONA – FUNDED

The collateral for this loan consists of 17 acres of residentially entitled land which will allow for the development of a 191 unit attached development. As it currently stands, the borrower has already presold all 191 units for an average of nearly $210,000 per unit. Almost all units will be three bedrooms, two bathrooms with over 1,300 square feet of living space. It is anticipated the borrower will begin development work on the site within a few weeks of loan funding and complete all development in June of 2022. Tranche Loans: Estimated Date - Estimated Amount - Loan # 11/4/2021 - $520,000 - #5237 11/4/2021 - $520,000 - #5238 11/4/2021 - $520,000 - #5239 11/4/2021 - $520,000 - #5240 11/4/2021 - $520,000 - #5241 11/4/2021 - $520,000 - #5242 11/4/2021 - $520,000 - #5243 1/28/2022 - $520,000 - TBD - Not open for investment at this time 2/25/2022 - $520,000 - TBD - Not open for investment at this time 3/25/2022 - $520,000 - TBD - Not open for investment at this time 4/29/2022 - $520,000 - TBD - Not open for investment at this time 5/27/2022 - $520,000 - TBD - Not open for investment at this time 6/24/2022

By |October 22nd, 2021|Funded Investments|0 Comments
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Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 702.919.4281 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
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