Bridge Loan needed for $37 Million or New JV Partner, Commercial Project in Kansas

Brief Overview of loan request: Need bridge loan of $37M to purchase the complete
280 acre mixed use development in Ogden, Kansas

Property Type: 280 acres of residential, commercial, retail & industrial land ready for construction. located in Ogden, Kansas next to Fort Riley

The $37 Million will enable the borrower to purchase a large mixed use parcel with approvals for resale or development and can be a JV or bridge loan.

Property Location: River Trail Additions,Hwy K-18 @ Walnut Street 
Ogden, Kansas 66517

As Is Property Value $98,000,000+

Loan Amount $37,000,000

As a bridge loan: 

Use of Funds Purchase proceeds to Seller $30,000,000
Interest Reserve (11%, 1 year) $ 4,070,000
Loan fees and closing costs (4%) $ 1,480,000
Working capital for development $ 1,450,000

The other option is a JV interest in the property. The seller is a current partner and owns a percentage of the project now. 

Schedule for construction for project:

Extended Stay Hotel (84 rooms) within 90 days
Medical Plaza (40,000SF) " " "
Bowling Center " 120 "
Residential apts (210 units) " 90 "
Townhouse units (164 units) " 90 "

Principals are property rich and cash poor and average to below average credit. 

Management experience:

48 years in the real estate Business as a broker

General Contractor

College teacher in state of CA, BS degree from USC.

Managed and built 11,000 Apartments units for Sonnenblick-Goldman

Exit Strategy: Develop and manage property and eventual sale to new buyer. 

Additional Information: The market demand for all uses such as residential, commercial,retail and industrial will support the development of the whole project over the next 2-3 years. When the recession hit in 2008, Riley county had the lowest unemployment rate, foreclosure rate and bankruptcy rate of any county over 25,000 population in the country. Also, Homeland Security is 
building the most expensive building built In the USA on the grounds of KSU. When 
completed it will bring new workers and money to the area for new housing and recreation.

Please contact Dave Burton, consultant, for more information

Email: daveburton1950@gmail.com            Phone: 702-879-9667

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Replies to This Discussion

Send me a executive summary of your project with phone number

to samcthomas45@gmail.com

Thanks

Sam Thomas

Hi David

I have sent you a mail. Looking forward to your response.

Regards

Ranil

We provide equity placement and joint venture partnership for interesting projects. Send us your executive summary at info@wblgroup.net

About us go to: http://www.wblgroup.net

We are one of the leading bridge lenders in the U.S. having funded over $2.5 billion on closed loans all over the U.S. and a good part of the world. Contact me directly to discuss this deal.


Jeffrey Silver
Senior Loan Officer
--

Kennedy Funding Financial, LLC
930 Sylvan Ave.
Suite 110
Englewood Cliffs, NJ  07632
Tel: 201-342-8500
Fax:201-603-6558
Skype ID: jeff-silver1
jeffsilver@kennedyfunding.com
www.kennedyfunding.com

Hard Money Mike 443-838-9563

up to 80% Investment, 65% cashout, 85% Commercial, Lg. Construction

Ft. Myers FL. Since 1971. fishermike50@gmail

All 50 states. JUST LIVING THE DREAM!

 

  

Hi David,

This sounds like a loan that fits our groups lending model. Call us directly to discuss your project and needs when you are ready. Your loan inquiry has been registered under your name and/or your company name. With the vast amount of responses for our investment/Lending postings it's best you call us back directly for a faster response. We have a no pressure sales approach so call us when you are ready. Times to call M-F 9am-5pm, Sat 10am-4pm EST. Sundays feel free to call and leave a message for a return call. WPI clients benefit from all our full service brands of providing private money real estate loans, buying and selling real estate and our “Buy/Lease” program for homebuyers with good or bad credit.  

Hard Money Lending Made Easy - Get Approved Now!  No Financials needed Contact us with your deal today! Transactional Funding in all States * FAST CLOSING  w/CLEAR TITLE  * Submit your loan request today!  http://buywpi.com/PrivateMoneyLoans.htm   Ask About Our JV Opportunities

                                         Testimony                                                

"I have been an Owner Broker in Charlotte, NC for over 34 Years. I recently contacted WPI for a loan against my office building for leverage for investment capital. WPI was very professional and FAST locating me funding.  I closed within two weeks of my application and now have capital to invest in some of the numerous deals available in my area. I would highly recommend them to anyone!" J. Ramadan - Investor/Owner Broker - Charlotte NC 

Ramadan Realty & Construction License # 57384, A+ Rating @ Better Business Bureau

 

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Gail Lending Company (GLC) is a leading non-banking financial services company, We offers current commercial real estate loans, and short long-term investment in real estate financing, factoring and SBA 504loans.

We provide capital up to $500 million to serve our customers' specific requirements, ranging from commercial real estate and Acquisition of fixed assets, investments in real estate financing, refinancing, partner buyout and working capital.

Please contact Gail Omini, our foreign account manager via our e-mail address gailomini@gmail.com

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