WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

Home/Funded Investments/WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

First Trust Deed collateralized by 33 acres of residentially zoned land nestled between MacDonald Highlands and Ascaya, two of the premier master planned communities in Southern Nevada. The land was purchased by the borrower in 2020 from an affiliated company of the group that is about to put the property back under contract. Blue Heron is expected to finalize a takedown agreement with the borrower for the purchase of the lots once there are developed. The borrower intends to develop the lots when the final city approval is granted in the coming months (conditional preliminary approval has already been granted). Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot.

Loan Amount: $5,700,000

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 extensions available. Final maturity date is 4/6/23.

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