Deal Features:
- 57% LTV based on current appraisal.
- 10.5% return to investors, interest paid monthly.
- 12-month loan term, (optional 6-month extension).
- First Deed of Trust/Development.
- Loan Amount: $1,300,000.
The project consists of approximately 5 gross acres located at the northwest corner of Alexander Road and Fort Apache in the northwestern part of Las Vegas. With the proceeds, the borrower will develop 14 finished single-family lots on the property.
