Logan Investments Provides $12M Loan For Private Island In British Virgin Islands
Scrub Island, British Virgin Islands
$12,000,000
Building Size
—
Asset Type
Other
Closing
May 31, 2020
About this deal
AI
A private island located at 1 Scrub Island in the British Virgin Islands has recently been involved in a loan transaction. The loan, amounting to $12,000,000, was provided by Logan Investments, represented by Ron Logan. The loan is secured as a second trust deed behind a $30 million first, and its purpose is to take the borrower out of bankruptcy and provide reserves for the construction of incomplete villas on the island.
Summary of transaction details:
- Property Type: Private Island
- Transaction Amount: $12,000,000
- Lender: Logan Investments - Ron Logan
- Location: 1 Scrub Island, British Virgin Islands
Ron Logan, representing Logan Investments, plays a key role in this transaction as the lender. The loan is specifically designed to support the borrower in their efforts to overcome bankruptcy and complete the construction of villas on the private island. This deal highlights the commitment of Logan Investments to providing financial support for unique and prestigious properties such as this private island.
On the Map
$12,000,000
Other
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Players
East End Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93