- Purpose: To provide infrastructure improvements for a 51-unit townhome development to be built in Carson City, Nevada. The project is approved by Carson City and entitlements are in place. The completed development will consist of 17 tri-plex lots.
- Collateral: Promissory Note secured by First Trust Deed on the 17 lots. The site is 2.99 acres in size and is located near the intersection of S. Carson Street and US Highway 50 in Carson City.
- Loan-To-Value: Not to exceed 60% of appraised value. Appraisal is in process.
- Minimum Interest: Six months.
- Borrower/Guarantor Profile: The borrowers are experienced homebuilders and have diverse backgrounds in real estate development,
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