Investments Archives - Page 6 of 10

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Goodyear 49, LLC #5367 | ARIZONA – FUNDED

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 Izzy|March 15th, 2022|Funded Investments|0 Comments

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Midway Heritage Development, LLC #5363 | UTAH – FUNDED

Midway Heritage Development, LLC #5363 | UTAH – FUNDED

First Trust Deed collateralized by roughly .86 acres of land that currently operates as a tire shop. This is the last acquisition of a larger 25-acre project which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the final map has not been approved, part of the whole project (not the collateral for this loan) is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The lots that will be developed on this plot of land will be some of the last lots to be sold. With that said, we expect the loan to go the full duration of the loan term without partial paydowns. 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

By Izzy|March 2nd, 2022|Funded Investments|0 Comments

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Rhino Holdings Rockford, LLC #5365 | ILLINOIS – FUNDED

Rhino Holdings Rockford, LLC #5365 | ILLINOIS – FUNDED

The collateral for this loan is 210,000 square foot shopping center. Located in Rockford, IL about 80 miles west Chicago, IL. The property is home to national retailers like Burlington Coat Factory, JoAnne Fabrics, Petsmart, Dollar Tree, and Old Chicago Pizza. The current owner is facing an imminent foreclosure after a few unsuccessful attempts at selling the property. The borrower has negotiated Burlington Coat Factory to downsize its space instead of moving out. In addition, the borrower is relocating JoAnne Fabrics to allow for two new tenants to occupy the property. Once the two new tenants are in, the property will be 92% occupied. Although neither of the new tenants have signed a formal lease, they both have worked with the borrower numerous times in the past and are expected to execute leases within the first six weeks of the borrower’s ownership. In addition to increasing the occupancy of the property, the borrower will add additional value by renovating the entire exterior of the asset. With nearly $4,000,000 in improvements to the property, the asset will be well positioned to be refinanced with cheaper sources of financing or sold on the open market. Master Loan Amount: $13,100,000 Yield: 10% interest

By Izzy|March 1st, 2022|Funded Investments|0 Comments

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Future Legends, LLC #5355 | COLORADO – FUNDED

Future Legends, LLC #5355 | COLORADO – FUNDED

First Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. The overall complex will combine all elements needed for a successful youth sports faculty including restaurants, fields, hotels, retail, dormitories, and other amenities. Located about two miles east of downtown Windsor (60 miles north of Denver, CO). After purchasing the Orem Owlz minor league baseball team in 2004, the borrower envisioned developing a youth sports complex integrated into a minor league baseball facility. This vision is being manifested into the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, a 64-team dorm, with retail shops and hotels surrounding the complex. This loan will encumber everything owned by the borrower in the area excluding the stadium and retail area which already has bank financing in place or in process. The 100 collateralized acres will continue to be developed by the borrower using the financing from this loan and additional money from the borrower. Master Loan Amount: $11,000,000 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

By Izzy|February 14th, 2022|Funded Investments|0 Comments

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Jump Acres, LLC #5343 | MONTANA – FUNDED

Jump Acres, LLC #5343 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 2-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for an eight building, 32-unit, residential development. Each of the eight buildings would be fourplexes to allow for a multitude of takeout financing options. Half of the units would be two bed, two bath units with rental rates averaging $1,500 per unit. The other half of the units would be three beds, two bath units with rental rates averaging $1,850 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $6,100,000 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 7/19/23.

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

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FIG Torrey Ranch, LLC #5339 | UTAH – FUNDED

FIG Torrey Ranch, LLC #5339 | UTAH – FUNDED

The collateral for this first position trust deed is 15 acres of a 25-acre master planned community that will be known as Modera Village. This is the borrower’s second of three purchases from the seller that will ultimately house Modera Village, a 700 plus unit “stacked townhome” community. The community will have 23 four story, 28 and 42 plex buildings with dog parks, playgrounds, a basketball court, club houses, and pools. Loan Amount: $4,000,000 Yield: 12% 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 12.5%. Term: Nine months with an optional nine month extension at maturity. Final maturity date is 7/23/23.

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

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Hurry It Up We Are Burning Daylight, LLC #5316 | NEVADA – FUNDED

Hurry It Up We Are Burning Daylight, LLC #5316 | NEVADA – FUNDED

The collateral for this loan is 1.88 acres of land located in Sandy Valley, NV which is about 34 miles southeast of the M Resort (the south point of the Las Vegas Strip). Since acquiring the property in June of 2020, the borrower has worked with the city to allow for the construction of a 10,500 square foot building. The property is 100% preleased to Family Dollar which is a wholly owned subsidiary of Dollar Tree and has been in operations for over 60 years and currently has over 15,000 stores and 250,000 employees. This is one of 600 planned new stores this year for Dollar Tree. Construction is already in full swing and is expected to be completed in four months. Once the property is constructed and the tenant has occupied the property, the borrower will pay this loan off via a refinance. Loan Amount: $1,796,000 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: Nine months with an optional nine-month extensions at maturity.

By Izzy|January 5th, 2022|Funded Investments|0 Comments

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Blue Heron Strata, LLC #5283 | NEVADA – FUNDED

Blue Heron Strata, LLC #5283 | NEVADA – FUNDED

First Trust Deed collateralized by 4.59 acres of residential land near the corner of Moon Hill Dr and Highland Shores Dr in Henderson, NV (approximately 20 miles southeast of downtown Las Vegas). Although the property is currently 4.59 acres, the borrower is working with the seller of the land on a boundary line adjustment that would add about 10% more land to the property that is being acquired. This won’t allow for any additional lots but instead it will allow many of the lots to be larger in size. Additionally, the lots are currently partly complete, and the seller is obligated to finish the lots before all the money is released to them from escrow. This is anticipated to occur in March of 2022. Homes in this development will average nearly 5,000 square feet with an average sales price of nearly $3,000,000. Within the Lake Las Vegas master planned community in which the development is located, there is a price premium associated with homes that have view of the lake. Most of the lots in this development will have unobstructed view of the lake. Master Loan Amount: $5,700,000 Yield: 11% interest is paid monthly in arrears with payments due on

By Izzy|December 15th, 2021|Funded Investments|0 Comments

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Green Level West I Apartments, LLC #5270 | NORTH CAROLINA – FUNDED

Green Level West I Apartments, LLC #5270 | 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 acquisition sits contiguous to two separate properties the borrower has under contract (or already owns) which will total over 40 acres. Since this closing must happen before year end, the borrower is using Ignite to help finance the acquisition while the entitlements are completed on the entire 40 acres of land. One of the other two properties the borrower has under contract will not close until the entitlement process is completed which is currently estimated to be in early 2022. 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. Loan Amount: $4,530,000 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

By Izzy|November 30th, 2021|Funded Investments|0 Comments

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Harris53 Apartments, LLC #5268 | UTAH – FUNDED

Harris53 Apartments, LLC #5268 | UTAH – FUNDED

The collateral for this loan is an approximately 2.885-acre site that will be entitled to allow for the construction of a 454-unit, seven-story apartment complex. With a unit mix of 22 studio’s, 280 one-bedrooms, and 152 two-bedroom units, the project is geared to smaller units focused toward the more cost conscience renters. With final plat approval anticipated for January, the borrower is in the process of getting final general contractor pricing for the build job which will put them in a position to get construction financing. Loan Amount: $9,450,000 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 6/6/23.

By Izzy|November 19th, 2021|Funded Investments|0 Comments