Poteet TX - Real Estate refinance
My client is looking for $720,000 for debt retirement on a 70-acre property the had purchased to develop.
The property was purchased for $5 million and my client owner-financed $2.5m. The seller has come forward with a cash-crunch situation and has asked for $720,000. If my client can provide the cash, they will discharge the entire debt.
As collateral, My client holds a note paying $25,000 per month on a separate property for 100 months principal only, with an interest balloon at the end as collateral.
Terms requested:
3 year note
3 annual payments of $300,000
total returned: $900,000
Financials (USD)
Amount Sought $720,000
Type Sought Bank Loan
Use of Proceeds Working Capital
Deal Terms
Listed By Broker / Agent
Offering Memorandum Or Prospectus Available? Yes
Willing To Pay Finders Fee? Yes
Willing to Co-Broker? Available On Request
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