First Trust Deed collateralized by a 0.46 acre finished lot located in one of the most exclusive communities of Las Vegas, Southern Highlands. It’s most distinctive amenity is the Southern Highlands Golf Club which is ranked among America’s top private clubs and was named Golf Digest’s “Best New Private Golf Club in the Western United States.” Within Southern Highlands is an even more exclusive neighborhood called The Bluffs. The Bluffs consists of 39 roughly half acre lots with unparalleled views of the Las Vegas Valley and the Las Vegas Strip. This loan encumbers the model home which is a 6,823 square foot trophy home designed to showcase the modern architecture, energy efficient, sustainable “smart home” that Blue Heron has come to be known for. Lots in the community are selling between $300,000 and $500,000 and have custom homes designed specifically for each lot.
Loan Amount: $2,650,000
Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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 a nine-month extension.