Ignite Funding Archives - Page 8 of 22

Hughbanks Properties XXII, LLC #5594 | NEVADA – FUNDED

The collateral for this loan is a 9.12 gross acre parcel of land that has been approved for an eight-unit residential neighborhood. Since acquiring the land in 2019, the borrower successfully obtained final action approval for the development in October of 2020. Since that time the borrower prioritized an adjacent project that needed utilities brought to the site before going forward on this property. With utilities now at the property line, the borrower will begin developing the project that will ultimately become a semi-custom home community that will be built by a sister company of the guarantors. Loan Amount: $1,350,000 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: Seven months with no optional extension at maturity. Final maturity date is 5/20/23.

By Izzy|October 21st, 2022|Funded Investments|0 Comments

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Village at St Rose, LLC #5570 | NEVADA – FUNDED

Village at St Rose, LLC #5570 | NEVADA – FUNDED

First Trust Deed collateralized by a 11.7-acre parcel of land approximately 13 miles south of downtown Las Vegas, NV. Since acquiring the property in late 2018, the borrower has continued to work with local city and county officials to get the property zoned for its intended use. Now that the property zoning of “mixed use” is in place, they have continued to work with officials to get the tentative map approved for a 300,000 square-foot development that will feature a mix of retail, office and medical space. Although leasing is ongoing, the borrower has received approval from the tenant that will occupy over 50% of the project. Loan Amount: $13,300,000 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 3/20/24.

By Izzy|September 13th, 2022|Funded Investments|0 Comments

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Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

The collateral for this loan is a 1.13 acre parcel of land located in the “Arts District” of Las Vegas, Nevada. The Arts District has seen an enormous amount of revitalization after large capital infusions in the area have completely changed the overall dynamics. The 32,000 square foot building was originally constructed in the 1950’s for Mission Linen Supply company which provided uniforms for the casinos throughout the 20th century. The plan of the borrower is to preserve the historical aesthetic of the building by bringing in three synergistic tenants to the area. Half of the space will be occupied by the Evel Knievel Museum which will become the flagship Evel Knievel experience and museum. The other half of the property will be occupied by a pizza tenant and a café. Over the next 12 months, the borrower anticipates spending nearly $10M prior to closing on a construction loan. Total project costs re expected to be $19.2M. Loan Amount: $4,950,000 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

By Izzy|September 13th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5563 | NEVADA – FUNDED

Mosaic Seven, LLC #5563 | NEVADA – FUNDED

The collateral for this loan is a 3.85 net acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning designation, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this parcel, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $3,258,000 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 3/21/24.

By Izzy|September 8th, 2022|Funded Investments|0 Comments

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Green Level West I Apartments, LLC #5564 | NORTH CAROLINA – FUNDED

Green Level West I Apartments, LLC #5564 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 25-acre site that will be entitled to allow for the construction of a 300+ unit apartment building. This site sits contiguous to another property the borrower already owns which totals roughly 35 acres. Since acquiring this site and the property next door, about a year ago, the borrower has worked with the city to modify the zoning to allow for apartments. They are continuing to work with the city to obtain approval on their building plans. This has been a bit slower process than originally anticipated because they “teamed up” with the property owner next door. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire on their master plan to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. The borrower for this loan is working alongside Duke Health to get the two projects combined into one master plan which will increase the property’s value given the economies of

By Izzy|August 26th, 2022|Funded Investments|0 Comments

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Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

First Trust Deed collateralized by roughly 11 acres of commercially zoned land in Coldwater Michigan which is midway between Chicago and Detroit. Since purchasing the property in 2019, the borrower has successfully reduced the vacancy by signing Harbor Freight to a long-term lease. Harbor Freight had their grand opening on 8/13/22. Additionally, the borrower is working with another national retailer to increase the overall occupancy to 85%. Once that lease is signed, the borrower will begin to advertise the property for sale. Loan Amount: $3,000,000 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 an optional nine-month extension at maturity. Final maturity date is 2/13/24.

By Izzy|August 23rd, 2022|Funded Investments|0 Comments

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Gold Rose Group, LLC #5554 | NEVADA – FUNDED

Gold Rose Group, LLC #5554 | NEVADA – FUNDED

The collateral for this loan is a 9,000 square foot custom estate located in Las Vegas, NV. Built in 2001, the “Castle” is a one -of-a-kind property consisting of six bedrooms, nine bathrooms, on 2.24 acres of land. Some of the many features of this French style chateau include, two kitchen islands, seven car garage, hardwood floors, cathedral ceilings, solar field, media room, home gym and a resort style pool. Since acquiring the home and the corresponding land in 2020, the borrower subdivided the “excess” two acres of land into four high end semi-custom homes. All four homes have been built and sold. The borrower recently listed the property for sell for $4,200,000 and expects to have it sold in the coming months. Loan Amount: $2,925,000 Yield: 11% 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 at maturity. Final maturity date is 2/3/24.

By Izzy|August 11th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5549 | NEVADA – FUNDED

Mosaic Seven, LLC #5549 | NEVADA – FUNDED

The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas prodevelopment city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for a multifamily development as part of the entire planned unit development in addition to this property, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials should be willing to support both residential as well as industrial developments around this area giving the borrower some flexibility with potential uses. Loan Amount: $3,258,000 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 2/23/24.

By Izzy|August 10th, 2022|Funded Investments|0 Comments

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Gilbert Care, LLC #5552 | ARIZONA – FUNDED

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 Izzy|August 8th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5545 | NEVADA – FUNDED

Mosaic Seven, LLC #5545 | NEVADA – FUNDED

The collateral for this loan are two, two and a half-acre parcels of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although only part of the property is zoned for rural open land, the borrower intends to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials have shown a willingness to support both residential and industrial developments. Loan Amount: $3,725,000 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 4/19/24.

By Izzy|July 19th, 2022|Funded Investments|0 Comments