Deal Status

Active

Property Address

2444 Chapin Road

Silver Creek, New York

14136

Requested Loan Amount

200000

Loan to Value

30

Loan Term

60

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Land

Cannabis Business

No

Number of Units

1

Current Occupancy

Vacant

Current Occupancy Percentage

100

Loan Type

Refinance

Current Zoning

Array

Entitlement Status

In Process

Development Status

Building Approval in Process

Existing Improvements

Array

Generate Income

No

Multiple Parcels

Yes

Number of Parcels

2

Current Market Value

648194

Equity Cash Out

No

Equity Cash Out Purpose

Invest in Another Property

Appraisal

No

APN Parcel ID

65.00-1-1; 65.00-1-4

Lot Size

138

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Additional Attachments

h

Comments

This is a land acquisition loan for property that will host a community solar farm. The solar farm will be the sole tenant with a long term lease generating approximately $37,000 per year for 35 years. The project is nearing full development and will have building permit in hand by April 2019.

First Name

Andrew

Last Name

Day

Company

Source Renewables, LLC

Role

Borrower

Location

Greenwich
Connecticut
USA