As of 6/30/18:
• Second quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 50
• Gross loan portfolio dollars: $35,993,212 (61.76% in 1st and 38.24% in 2nd position)
• Average loan-to-value: 50.32%*
• Average loan amount: $719,864*
*calculated when loans are initially funded
Our featured property this quarter is located at 824 Neptune Avenue in Encinitas, California. It is a 4,502 sq ft 3-story home situated on a 10,954 sq ft lot. This 5-bedroom, 5.5-bathroom home was custom built in 2016 and has a beautiful view of the ocean from the 2nd and 3rd floors. This property is stunning with inside/ outside polished limestone flooring, an elevator, and many other amenities.
Our borrower invested in building this beach front property and needed a line of credit to help with cash flow until the property sells. Stonecrest provided him with a $3M credit line in 1st position against the home’s appraised value of $7.7M. Our borrower has great credit and financial profiles, which when coupled with our low 39% loan-to-value, makes this a great loan for the portfolio!
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|