As of 6/30/17:
• Second quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 60
• Gross loan portfolio dollars: $38,292,318 (74.02% in 1st and 25.98% in 2nd position)
• Average loan-to-value: 50.67%*
• Average loan amount: $638,205*
*calculated when loans are initially funded
Our featured property this quarter is 3,950sqft multi-tenant retail center sitting on a 2.33-acre site. It is located at 6333-6341 Stockton Boulevard in Sacramento, California. The property is fully rented and includes a lease through 2023 on the property’s billboard.
Our borrower wanted a business line of credit against his commercial property, which is valued at $1.8M. He is in the later stages of the approval process to develop a storage facility on this site, which will take advantage of the excess land and improve property’s value. He has a strong financial profile with good credit. We gave him a $1M line of credit in 1st position, putting us at a 56% loan-to-value. The exit for our loan will be a construction loan to build the storage facility once approvals are in place.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|