Investment Type

Mortgage Trust Deed

Target Return

10% - 10.5% Monthly

Minimum Investment

$10,000

Strategy Type

Debt Short-Term

Collateral Type

Commercial Property

Property Type

Commercial Land, Retail

First Trust Deed collateralized by an approximately 367,000 square foot mall in Nampa, ID (about 22 miles west of Boise, ID). Current tenants in this mall include national brands such as Big 5 Sporting Goods, Ross Dress for Less, and Jo-Ann Fabric as well as 30+ local tenants. The property is currently operating at a 36% vacancy however retail vacancy for this market is about 10%. Do to the declining consumer appetite for traditional mall space, it is the borrower’s intent to demolish a portion of the mall and turn it into a lifestyle center. To do this, the borrower will demolish approximately 30% of the in-line shop space and remove most of the interior corridors. In addition, the borrower will renegotiate leases with two of the big tenants to move their space as well as increase the duration of their lease. On top of that, the borrower will bring in two big box tenants to absorb a large amount of the vacant space. Given this property has more vacancy than the surrounding properties, it is the borrower’s intent to lease up the remaining space before he puts the property on the market for sale.

Ignite Funding

Office Locations

Ignite Funding
2140 E. Pebble Rd. #160, Las Vegas, NV, 89123

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