Property Address

2011 Paul Quinn , Houston Texas 77091

Requested Loan Amount

$3,850,000

Loan to Value

4,900,000%

Loan Term

18 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Sale of Subject Property

Collateral and Loan Details

Commercial Property Type

Land

Cannabis Business

No

Number of Units

14

Current Occupancy

Vacant

Current Occupancy Percentage

14

Loan Type

Ground-Up Construction

Current Zoning

Residential Land

Entitlement Status

Entitled

Development Status

Building Approval in Process

Existing Improvements

Street Access, Electricity, Gas, Water

Generate Income

No

Multiple Parcels

No

Project Description

14 Townhome development in Houston Texas in a highly marketable area. Price point for each town home is 325k to 350k. Construction cost 260k. Borrower is a builder and has managed ground up Residental and Multi family Apartment projects. borrower owns the land and in the process of having it replotted

Property Type

Residential

Residential Property Type

Single Family Residence(s)

Project Phase

Planning

Land Value

$500,000

Estimated Costs

$3,850,000

Have Budget

Yes

Projects Completed

25

Licensed Contractor

Yes

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Good

Property Photos

First Name

Danny

Last Name

Mckinney

Phone Number

(713) 203-3648

Company

DMAC Capital Funding, LLC

Role

Mortgage Broker

Location

Houston, Texas

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