Loan amount
Loan type
As-Is Property Value
50% {LTV}
Property type
19.62 acre commercial land with gas reserves and organic beef business
Borrower Details
Credit score
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
Loan Details
Additional Loan Information
The property is located in S. Central, PA. $125 million in gas reserves were discovered on the land in 2018. An auditor put a $53 million value on the property. The seller has retired an wants to sell quickly, so instead of her signing a new gas lease with big gas company, she is using this gas find as a selling perk and is asking for $26 million to sell quickly. Sale includes 100% of all gas, oil, water and mineral rights. The land is also currently used for an organic black angus beef business which generates $6 million a year which I plan to continue after purchasing the property. I am asking for full 100% financing with zero money down and as my collateral I am willing to also add the lender to the gas lease with my name, giving them 90% of all gas rights and royalties for the full length of the loan. Property title is free and clear for a quick closing.
July 14, 2019 - 8:02am

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