Mesa Day Care Refinance
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Loan Amount: $2,850,000
Collateral: First Trust Deed on 1.47-acre site in Mesa, Arizona. The site has a 60% completed 10,000-square foot day care center with a 16-year lease tenant in place.
Loan-to-Value: Estimated at 68% (value of $3,700,000) based on an “as-completed” value of the property in February 2018. With that said, due to the updated lease signed by the tenant the property has as a $4,142,857 value.
Interest Rate: 13.25% per annum, paid monthly.
Minimum Interest: Six months minimum interest guaranty. No prepayment penalty after six months.
Term: 12 months, with one six-month extension option for which the Borrower will pay .50% extension fee to lender.
Borrower/Guarantor Profile: Very Well Known Returning Borrower. Call or email for details.
RISK DISCLOSURE All real estate markets can be negatively affected by interest rates, availability of capital, supply and demand factors, and general economic conditions both locally and nationally. The investor should review this proposal with these risk factors in mind, and base the investment decision on both existing market conditions and potential changes in the economy, as well as the investor’s personal objectives and risk tolerance.