Land Loan: Seeking a $1.5 Million

[6 Degrees Realty Capital]

Seeking a $1.5 Million loan (an approximate LTV of 2.4%) at 9% or less, secured by a 1^st Trust Deed for 3 years (36 months).

The property is a 634-acre site located in the heart of the City of Rancho Mirage. The property received specific plan approval in 1993; however, the specific plan expired when the City updated its General Plan in 2005. Current land use and zoning designations allow for very low density residential (2 DU/AC), resort hotel and general commercial. The City requires a new specific plan for future development of the property and has expressed a willingness to eliminate the resort hotel requirement so long as an alternate revenue source equivalent to the forfeited transient occupancy tax is provided. Based on discussions with the City that require the entire property to be entitled with a single specific plan, owner/borrower desires to entitle the property and then to develop an exit strategy, which could range from a bulk sale to planning and/or installation of backbone infrastructure and delivery of super pads to builders.

Site Summary:

Location:              The property is bounded by Bob Hope Drive on the west. Monterey Ave on the  east, Gerald Ford Drive on the north, and Frank Sinatra Drive on the south.

Size:                       634.69 acres (approx.)

Zoning:                 Very Low Density Residential (2DU/AC) – approx. 435 acres; Resort & Hotel –   approx. 175 acres; General Commercial –approx. 25 acres

 

Please contact me at [phone], if you can fund this loan.

Ward

[Michael Shaw]

Hard Money Mike 443-838-9563

South Ft. Myers FL. Since 1971. fishermike50@gmail

all 50 states. JUST LIVING THE DREAM!

I will take a look...... 9%.does not work....... 14 to 15% for 24 months.

I will need executive summary, strong personal financial statement, plat, tri-merge credit report, Bio on principle and exit plan.

Thanks,

[Jeffrey Silver]

Kennedy Funding is a direct private lender on land all over the U.S. and a good part of the world. To discuss your lending needs call me directly at 201-342-8500 or email me at [e-mail]. Please review our website to learn more about us at kennedyfunding.com.

[Arjen Smit]

Dear Sir/Madam

We actively invest and provide short, medium and long-term finance facilities to corporate and private borrowers globally who are able to clearly demonstrate viability and status. We boast extensive financial resources from our own and managed private funds and are therefore able to provide facilities specifically structured to generate far reaching financial solutions designed to stimulate business growth and maximize profitability.

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