Available Investments

Property Morey Place Please click to see the larger photo
City: Sacramento, CA
Status: Owned
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This $2,100,000 loan was a first priority loan secured by 99 residential lots on approximately 12.7 acres.

The Details:

  • The Borrower spent over $550,000 entitling the property. Vesting of the tentative map was secured prior to this loan funding.
  • The proposed 99 home subdivision will target entry level homebuyers. The average home size will be approximately 1,500 square feet.
  • Equity Bancorp has impounded interest reserves for the term of the loan.
  • The Borrower is pursuing final map approval for the subdivision and intends to repay the subject loan by either selling the project to a national builder or securing a construction loan to build the project himself.