Project Description
Construction – Portland, OR
- Status: Performing
- Position: Second Lien
- Loan Type: Construction
- Current Loan Balance: $0
- Fully Committed Loan Amount: $1,700,000
- Appraised Value: –
- Loan to Value Ratio: –
- Current Interest Rate: 10.25%
- Interest Rate Index: WSJP + 7.00%
- Interest Rate Floor: n/a
- Origination Date: September 24, 2019
- Maturity Date: October 1, 2021
- Term: 24 months
- % of Portfolio: 0.0%
This second lien note was originated to provide an interest reserve and working capital. The second lien will mature in October 2021 with the first lien. The fully drawn aggregate loan amount is $16,200,000 for an aggregate loan-to-value of 69% upon completion and stabilization.
