Company owns 18.3 acres of real estate, 8 acres of which will be developed for parking services in TX. Because of its strategic location, the company will provide parking for a Waterpark, Speed Racing Park, and other area attractions with approximately 1,200 spaces. The lot will have 1,000 general parking spots at $10 each and 200 preferred parking spots at $15 each. Much of the revenue will come from direct sales to customers visiting nearby attractions. Other revenue sources include rental income from usage leases with special event parking/hosting and land rental for local events.
| Loan ID | 0102 |
| DSCR | 2.04 |
| LTV | 65.36 |
| Note Rate | 7.4 |
| Property Location | TX |
| NAICS | 812930 |
| Guaranty Type | USDA |
| Loan Term | 18.5 yrs |
| Rate type | Var |
| Note date | 02/26/2018 |
| Maturity date | 01/09/2036 |
| Participation Availability Amount | $210,894 |
| Minimum Participation Amount | $210,894 |
| Original Loan Amount | $487,500 |
| Full Loan Documentation | Link |
| Inquire | Inquire |