Loan amount
$10,000,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$100,000,000
LTV
10%
{LTV}
Property type
Vacant Land
Borrower Details
Credit score
750
Deal experience
11 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Lynn Haven
State
Florida
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$10,000,000
Additional Loan Information
We have a 203 acre water front property in bay county Florida. Master planned by DPZ (www.alysbeach.com) we have entitlements for a large mixed use destination development. We are constructing marina and infrastructure for Phase 1. Also cleaning up cap table. Have business for $55 million for small portions of projects in place. Property recently appraised at $101.6 million, marina at $105 million. Need $30 to create value with marina and phase one assets
Status
Closed
Created
April 5, 2024 - 12:01am
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