As of 12/31/16:
• Fourth quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 55
• Gross loan portfolio dollars: $32,996,435 (69.26% in 1st and 30.74% in 2nd position)
• Average loan-to-value: 47.45%*
• Average loan amount: $599,935*
*calculated when loans are initially funded
Our featured property this quarter is a 4,472sqft home located at 11230 Chimney Rock Road in Paso Robles, California. This home was built in 1948, sits on 160 acres, and has 6 bedrooms and 4 bathrooms. The gorgeous acreage features two beautiful farm homes, a straw bale winery, tasting room, large art studio, and various horse facilities including barns, stables, and other structures.
Our borrowers were in need of a business line of credit to help gap a short term need. A group of large players are in the process of putting together a capital raise in order to be able to mine minerals from a certain portion of this property. They are restructuring their business model and needed our line of credit to hold them over until the equity raise of capital is completed. Stonecrest provided them with a $3M credit line as a first against their property, valued at $25M. Although this is not our typical property profile, given the extremely low loan to value of 12%, we decided it would be a solid deal for the Fund.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|