Tahoe Reno Industrial Center
Commercial Building Pad Improvement ($1.8M)
Secured by First Deed Trust
Invest in Nevada, Earn More for Retirement
We expect this investment opportunity to positively impact the Las Vegas economy and to pay $324,000 in interest to the Lenders.
Why we think it’s a good deal:
The property will be used to provide services currently unavailable in the Tahoe Reno Industrial Center (TRIC), including much-needed hotel, apartment, restaurant and daycare services.
First Trust Deed on parcel approximately 10 acres of land known as tax parcel # 005-101-18, Storey County, Nevada. The property is located within the Tahoe Reno Industrial Center (TRIC), east of Reno, and is known as the Town Center area of TRIC.
The Borrower has signed a lease with an experienced daycare operator on a portion of the property and is close to signing a purchase agreement with a hotel operator for a portion of the site. Other potential uses include fast food, apartments and extended-stay hotels.
Potential Sources of Repayment:
1. Refinance on properties with 3rd party lender
2. Sale of the properties
3. Resources of the Principals
Terms and Limitations:
Interest & Payment Schedule: 12% interest per annum, paid in monthly installments of interest-only.
Time to Maturity: 18 months
Loan-to-Value Ratio: 45.1% of the value of the site after improvements are installed. An appraisal of the property indicates a value of $3,995,000. Development funds will be disbursed through a third-party construction control firm.