Commercial Loan Request for Acquisition and Rehab

We have identified a new opportunity that may be of interest to you. This project is located in a very well situated section of Downtown, Indianapolis, Indiana. This four floors and basement asset is near Pacer Arena and includes a very long term successful tenant located on the entire first floor and basement in the spirits business and the second thru fourth floors will be fully occupied once the tenant improvements are completed. The borrower is willing to fund up to $200K. Total acquisition price is $1.560M and the rehab for hard and soft costs for this project is approximately $1M. These numbers for acquisition and rehab are net of any fees for closing, our fees, etc. Borrower has this project under contract with a deposit of $25K. This borrower is very experienced in real estate and has successfully developed other properties in the past. Middle FICO score is 700 and a net worth of $800K. Borrower is open to signing personally. The rents in place for the first floor and basement are $6,200 per month and has an increase in next February. The LOI for the second to fourth floors is for $15K per month with a 10 year lease to a very established tenant starting at the completion of the tenant improvement. The value for the property fully stabilized is approximately $4M.

We are direct to the borrower via our procuring cause.


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