Levante at Thousand Palms

Overview

Refinance transaction at 25% LTV in 1st position Re-Entitlement of a 40 acre parcel with previous map for 100+ homes, the new design will reposition the property as a single-APN Build-To-Rent community of single family homes and townhomes in the area designated by the county of Riverside as a priority work force housing area with priority approvals and various concessions. 12 month design and approval process, exit - refinance or sale to a national builder

Property details

Purchase price

$0

Rehab costs

$200,000

After repair value

$6,000,000

Borrower cash in deal

$50,000