Patch Of Land Lending Provides $2.08M Construction Loan For Dev Site In San Dimas | 1628 Brasada Lane | Patch of Land Lending | Development Site | Loan

Summary

Loan

CONNECTICUT

Development Site

51,100 sqft

A development site located at 1628 Brasada Lane in San Dimas has recently secured a construction financing loan. The lender for this loan is Patch of Land Lending, represented by Tameer Orevi. The loan amount is $2,082,400, and it is set at 80% loan-to-cost (LTC) ratio. The loan term is 18 months, and there is no prepayment penalty. The total building size of the planned development is 5,110 square feet.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $2,082,400
Address: 1628 Brasada Lane
Market: San Dimas
Lender: Patch of Land Lending – Tameer Orevi

Brasada Homes Land III, the landlord of the property, has successfully secured the construction financing loan. The loan provided by Patch of Land Lending, with Tameer Orevi as their representative, will enable the development of a project with a total building size of 5,110 square feet. The loan terms include an 18-month loan term and no prepayment penalty.

Players

All
1

Lenders
1

Patch of Land Lending

Details

Deal Summary

FINANCED

IMAGE: @TameerOrevi DATE: 09/30/2020 ADDRESS: 1628 Brasada Lane MARKET: San Dimas ASSET TYPE: Dev Site LENDER: Patch of Land Lending – Tameer Orevi LANDLORD: Brasada Homes Land III LOAN AMOUNT: $2,082,400 LOAN TERMS: Construction Financing at 80% LTC, 18 Month Loan Term, and No Prepayment Penalty BSF: 5,110

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Address1628 Brasada Lane

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