- Collateral: First Trust Deed on 11,640 sq ft former bank building in Lakewood, Colorado.
- Property Description: First Trust Deed on 11,640sqft former bank building. Borrower spent the last year remodeling the building and has put over $600k into building since the purchase last year.
- Loan-To-Value: 66% (value of $1,600,000) based on an “as-is” appraised value of the property provided by Hultgren Valuation Group in December 2019.
- Minimum Interest: 3 months minimum interest guaranty. No prepayment penalty after 3 months.
- Borrower/Guarantor Profile: Returning borrowers whom we have worked with them several times as investors and borrowers. They are experienced real estate investors and developers based in Las Vegas with a $30MM Net Worth.
- Loan Servicing: FCI Loan Servicing will provide loan servicing at Borrower’s expense.
We are open with safety measures in place during COVID-19.