As of 12/31/17:
• Fourth quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 51
• Gross loan portfolio dollars: $36,042,384 (63.65% in 1st and 36.35% in 2nd position)
• Average loan-to-value: 48.60%*
• Average loan amount: $706.713*
*calculated when loans are initially funded
Stonecrest’s featured property this quarter is located at 2490 Old Middlefield Way in Mountain View, California. The building is approximately 11,200 sq ft and sits on a .71 acre lot. The commercial service zoning allows both commercial and industrial uses. Mountain View is home to many high technology companies. California BMW occupies this commercial building.
Our borrower is a past client.They own this successful motorcycle dealership and building, as well as another location. They were in need of a line of credit for inventory management purposes. Stonecrest provided a $900k line of credit in second position behind a $1.2M first on the property, which was valued at $5.3M. This put us at a combined loan to value of 40%. With the borrowers’ good track record and our great equity position, this deal is an excellent addition to the portfolio.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|