- Collateral: Assignment of a Note and First Trust Deed on a parcel of land being developed with a Wahoo’s Tacos. The property was purchased in July 2019 at a purchase price of $5,673,000 with down payment of $2,465,318.00, and signed a Note in the amount of $2,836,500 secured by First Trust Deed on the property.
- Loan-To-Value: 54% LTV based value of the property with the Wahoo’s franchise in place is estimated at $5.3 million, based on a 5.55 CAP rate on the initial lease amount of $295,000 per year.
- Minimum Interest: 3 months minimum interest guaranty. No prepayment penalty after three months.
- Borrower/Guarantor Profile: Call for Details
- Loan Servicing: FCI Loan Servicing will provide loan servicing at Borrower’s expense.
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