- Collateral: First Trust Deed on 30 acre Hemp Farm with 30-acre feet water rights with two operating wells in Pahrump, Nevada
- Property Description: 30 acre Hemp Farm with 30-acre feet water rights with two operating wells. 5/8-mile horse racetrack, 3500 seat stadium arena. Church & block gazebo. 19 horse stable barn with 1,392 sq. ft. living quarters above. Meeting hall with public bathrooms.
- Loan-To-Value: 46% (value of $3,260,000) based on an “as-is” appraised value of the property provided by Valuation Consultants in October 2019.
- Minimum Interest: 6 months minimum interest guaranty. No prepayment penalty after 6 months.
- Borrower/Guarantor Profile: Returning borrower. He is an experienced real estate investor and developer based in Las Vegas with a $25M Net Worth.
- Loan Servicing: FCI Loan Servicing will provide loan servicing at Borrower’s expense.
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