Stonecrest
StonecrestPerformance Report:
as of 6/30/13
- Second quarter average return: 7.75%
- Year-to-date annualized return: 7.75%
- Number of loans: 40
- Gross loan portfolio dollars: $10,243,972 (100% in 1st and 0% in 2nd position)
- Average loan-to-value: 44.94%*
- Average loan amount: $271,435
*calculated when loans are initially funded
Featured Asset:
Our featured property this month is a medical office building located at 955 Woodside Road in Redwood City California. The building is approximately 1,827 sqft and sits on a 9,212 sqft lot. The property includes 9 parking spaces.
Our borrowers have had this property since 1978 and own it free and clear of any loans. They have a veterinarian practice and have operated their business out of the site for many years. In addition to wanting to take care of some financial obligations, they wanted access to working capital for future equipment purchases. Establishing a line of credit would serve their purposes well, but they didn’t meet the bank’s requirements. So they decided to establish one with us.
Stonecrest had the property evaluated and the assessment came in at $900k. As a result, we felt comfortable providing the borrowers with a $250k line in 1st position. This added another great loan to the portfolio at 28% loan-to-value.
Property Types:
Past 12 months Annualized Returns:
| Month | Income Partner | Growth Partner |
|---|---|---|
| July, 2012 | 7.75% | 8.03% |
| August, 2012 | 7.75% | 8.03% |
| September, 2012 | 7.75% | 8.03% |
| October, 2012 | 7.75% | 8.03% |
| November, 2012 | 7.75% | 8.03% |
| December, 2012 | 7.75% | 8.03% |
| January, 2013 | 7.75% | 8.03% |
| February, 2013 | 7.75% | 8.03% |
| March, 2013 | 7.75% | 8.03% |
| April, 2013 | 7.75% | 8.03% |
| May, 2013 | 7.75% | 8.03% |
| June, 2013 | 7.75% | 8.03% |