Deal Status

Active

Property Address

7007 Superior Ave, Cleveland Ohio 44103

Requested Loan Amount

$1,200,000

Loan to Value

90%

Loan Term

36 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Mixed-Use

Unit Mix Retail

4

Unit Mix Other

2

Number of Units

15

Current Occupancy

Vacant

Current Occupancy Percentage

1

Loan Type

Ground-Up Construction

Square Footage

56,756

Project Description

This construction project will consist of 56,756 sqft +/- (12,757 sqft Childcare facility, 26,485 Event & Meeting space, 18,149 sqft Commercial Retail space) The owner has approximately $2MM to inject into the project.

Project Phase

Planning

Land Value

$500,000

Estimated Costs

$10,700,000

Have Budget

Yes

Licensed Contractor

No

APN Parcel ID

105-23-072, 105-23-071, 105-23-065, 105-23-064, 105-23-023, 105-23-082, 105-23-075, 105-22-034, 105-22-035, 105-22-036 105-23-070, 105-23-069, 105-23-068, 105-23-067, 105-23-112, 105-23-022, 105-23-021, 105-23-020, 105-23-019, 105-23-084, 105-23-083, 105-23-081 105-23-080, 105-23-079, 105-23-078, 105-23-077, 105-23-066, 105-23-073, 105-22-037

Will additional properties be collateralized?

No

Borrower Entity

Non-Profit Corporation

Borrower Credit Rating

Excellent

Attachments

First Name

L. La'Ron

Last Name

Posey

Phone Number

(832) 434-2900

Company

Dunhill Inc

Role

Consultant

Location

Texas

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