FacebookTwitterLinkedInYouTube

real estate

Elation Homes, Inc. #4977 | NEVADA – FUNDED

First Trust Deed collateralized by 14 approximately half acre, fully developed residential lots located in the Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 70 homes that are either finished or under contract to be built in the next 30 days. The borrower sold 43 lots within this same community to DR Horton in May of 2019 for $35,000 per lot and this loan is for under $20,000 per lot. Two of the lots will have homes built on them. These two homes will be about 1,600 square feet each and be the same product type this borrower has previously built in this community. Loan Amount: $750,000 Yield: 10.50% 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 one optional nine-month extension period at maturity.

By |March 1st, 2021|Funded Investments|0 Comments
Read More

Harmony Horizon Ridge, LLC #4949 – 4976 | NEVADA – FUNDED

First Trust Deed collateralized by 28 mostly finished residential lots near the corner of Horizon Ridge Pkwy and Horizon Dr in Henderson, NV (approximately 17 miles southeast of downtown Las Vegas). Since acquiring the property in November of 2018, the borrower has successfully obtained approval for the development of a 154-lot subdivision and subsequently completed most of the development work on all three phases of the project. The lots are roughly 0.05 acres in size which was done to ultimately build townhomes on. Townhomes in the community will range between 1,121-1,711 square feet with three to five bedrooms and up to three baths with an average sales price of $290,000. Master Loan Amount: $1,736,000 Tranche Loan Amount: $62,000 Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the community. A breakdown of the lots is shown on the next page. Yield: 10.00% 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 one optional nine-month extension period at maturity.

By |March 1st, 2021|Funded Investments|0 Comments
Read More

Sparks Golden Holdings, LLC #4946 | NEVADA – FUNDED

First Trust Deed collateralized by a nearly 15-acre parcel of land approximately 13 miles north east of downtown Reno, NV. The borrower is acquiring these nearly 15 acres from the seller who has tentative approval for a master plan consisting of over 40 contiguous acres of land. Within the masterplan, only the 15 acres the borrower is acquiring will be constructed into apartment units. The remaining acreage will be used for commercial space and condo units. Over the next six months the borrower will continue to work with the city to finalize the predevelopment of the project with the anticipation of June being able to finalize the predevelopment work and obtain building permits for the project. As soon as a building permit is ready to be issued, the borrower anticipates obtaining construction financing to pay off this acquisition loan. Loan Amount: $8,000,000 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 an optional six-month extension period at maturity.

By |January 20th, 2021|Funded Investments|0 Comments
Read More

Harmony Homes Nevada, LLC #4831 | NEVADA – FUNDED

First Trust Deed collateralized by 10.2 acres of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 58. The development work began in the spring of this year and it is estimated to be completed next month for a cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2021. Loan Amount: $2,726,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By |December 29th, 2020|Funded Investments|0 Comments
Read More

Harmony Homes Nevada, LLC #4826 – FUNDED

First Trust Deed collateralized by 10.2 acres of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 84. The development work began in the spring of this year and it is estimated to be completed in six months for a cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2021. Loan Amount: $1,604,400 Yield: 10% 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 9-month extension period at maturity.

By |December 28th, 2020|Funded Investments|0 Comments
Read More

GGD Oakdale, LLC #4825 | KANSAS – FUNDED

First position loan collateralized by a single tenant big box retail building totaling 45,000 square feet in Topeka, Kansas (about 70 miles west of Kansas City, KS). The property is currently 100% occupied to Dick’s Sporting Goods which is a national credit tenant with a market cap of over 4 billion (as of 12/11/2020). This corporate guaranteed lease was recently extended and runs through 2027. Since occupying the property in 2001, the tenant has extended their lease on three separate occasions showing a strong commitment to the site. The base rent of $416,000 is set to increase to $436,000 in 14 months. With this being a “Net Net lease”, the tenant is responsible for the real estate taxes, property insurance, and the common area maintenance. The owner of the property is then responsible for the roof and structure of the building. Loan Amount: $4,100,000 Yield: 12% total interest. 8% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. An additional 4% interest is paid upon the final loan payoff. Term: Nine months with an optional nine-month extension at maturity.

By |December 27th, 2020|Funded Investments|0 Comments
Read More

Green Level West II, LLC #4824 | North Carolina – FUNDED

The collateral for this loan is an approximately 10-acre site that will be entitled to allow for the construction of a 74-unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract 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 whole 40 acres of land. 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 September. 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: $2,810,000 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

By |December 11th, 2020|Funded Investments|0 Comments
Read More

GGD Oakdale, LLC #4823 | Illinois – FUNDED

First position loan collateralized by a flex office building totaling 100,625 square feet in Peoria, Illinois (about 150 miles southwest of Chicago, IL). The property is currently 85% occupied to DHL Logistics and OSF Healthcare. DHL is a national credit tenant and OSF Healthcare is a large regional healthcare provider. Although 15% of the space is vacant, it is the suite with the best visibility so it should be easier to get leased. OSF Healthcare leases over 70% of the space and has been at this location since 2011 where they use the facility as a call center. With much of the routine doctor visits being conducted as virtual visits, it is anticipated the tenant will renew its lease when it expires in 2022. Even though Illinois is a bit outside of the typical geographic footprint of Ignite Funding, given the strong tenants and cash flow, we believe in the viability of this project. Loan Amount: $3,850,000 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 extension at maturity.

By |December 11th, 2020|Funded Investments|0 Comments
Read More

Harmony Homes Nevada, LLC #4818 | NEVADA – FUNDED

First Trust Deed collateralized by nearly 9 acres of residentially zoned land near the corner of Lake Mead Pkwy and Warm Springs Road in Henderson, NV (roughly 17 miles southeast of downtown Las Vegas). The land is currently zoned PC (Planned Community) which will allow for the development of 18 homes on the site, but the borrower is working with the city to approve a 94-lot community. Although this zoning has been informally approved, it will not become official until the recording (a few more weeks). Additionally, a tentative map has been approved to allow for the construction of the 94 attached townhome units. This is the second community in this area the borrower has done with the exact same floor plans. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $4,500,000. The first home will not be made available for approximately one year. With plans ranging from 1121 - 1711 square feet and price points of under $250,000, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $2,444,000 Tranche Loan Amount: $611,000 Yield: 10.00% (Principal Balance < $100,000) Interest is paid monthly

By |December 3rd, 2020|Funded Investments|0 Comments
Read More

GGD Oakdale, LLC #4817 | NEW MEXICO – FUNDED

First position deed of trust collateralized by two office towers totaling approximately 264,000 square feet, covering 9.31 acres, near the heart of Albuquerque, NM. Currently the property is only 30% leased but the major tenant, The New Mexico Department of Health, is looking to expand and extend their lease. The borrower intends to upgrade the façade of the building, the lobby, and the HVAC system of the 17- story building. Once this work is completed the borrower will consolidate all tenants into the 17-story tower and completely vacate the 10-story building. Once accomplished, the 17- story tower will be over 50% leased at which point they will look to refinance the loan. Upon completion of the main tower, Ignite will release the deed of trust on the vacant 10-story building since we will have sufficient collateral which will allow the borrower to get construction financing to convert the property into approximately 150 apartment building. This is the same strategy he implemented in Albuquerque with a converted hotel. Loan Amount: $4,800,000 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

By |December 2nd, 2020|Funded Investments|0 Comments
Read More
Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 877.739.9094 | 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.
FacebookTwitterLinkedInYouTube
loading