Mezzanine Financing

SandyMountains1

 

Location: Draper, UT
Description: Office developer required financing on 40-acre project to continue with development schedule.
Investment Date: 2013
Opportunity: Ability to support developer’s growth strategy by providing bridge financing, until permanent project financing could be obtained.
Investment Thesis: Obtain first deed position on property worth 2.7X loan amount, with loan terms offering superior returns on invested capital.
Status/Results: Loan paid off with two extensions, allowing for 23%+ IRR.