Finance for Developer Making Comeback

Saturday, May 25, 2019
Borrower   The family trust of a real estate developer in New York.
Loan   A $1,200,000 - three-year loan with interest at 12% for the first year, and 18% for the second and third years.
Collateral   A first mortgage lien on the borrower's 45% interest in the ownership of a shopping center in White Plains. The shopping center produces sufficient excess cash to pay the interest on our loan.
Guarantors   The Trust's beneficiary, who is also the Developer.
Purpose   The beneficiary, a former New York property developer, wishes to get back into the business, and is raising cash to do this.
Exit strategy   The borrower plans to repay us from profits made from real estate development.
Outcome   The loan has been repaid in full. - all rights reserved

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