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244 Lakeside acres in FLorida

Monday, August 21, 2017
Borrower   A single-purpose entity set up for the development.
Loan   A $40,000,000 three year loan at 10.5% the first year, 15% the second and 18% the third .
Collateral   A first mortgage on 224 acres with 2,030 feet of frontage along the western side of Palm Parkway in the Lake Buena Vista area of Orange County, Florida.
Guarantors   The principal of the Borrower.
Purpose   The Loan enabled the Borrower to close on the property, which otherwise he would have lost, together with a substsntial down payment.
Exit strategy   The Borrower expects to pay us off out of the proceeds of one or more parcels of the property.
Outcome   The loan has been repaid in full.




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