Project Description
Mixed-Use/Commercial – Ashland, OR
- Status: Performing
- Position: First Lien
- Loan Type: Cash-Out Refi
- Current Loan Balance: $900,000
- Fully Committed Loan Amount: $900,000
- Appraised Value: $1,375,000
- Loan to Value Ratio: 65.5%
- Current Interest Rate: 8.99%
- Interest Rate Index: WSJP + 4.24%
- Interest Rate Floor: 8.99%
- Origination Date: January 31, 2020
- Maturity Date: February 1, 2022
- Term: 24 months
- % of Portfolio: 1.2%
420 Reiten is a 35.99-acre (1,567,724 square feet) property that includes two indoor greenhouses and a mobile home. The property is zoned for “exclusive farm use” (EFU), which allows for a wide range of agricultural production.
