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05-28-2015, 03:14 PM #1
- Join Date
- Feb 2015
- Posts
- 22
Who can do this
A Land owner with 37.5 acres that they lease to and has a Company who built an Oil Man's Camp that houses 350 beds and wants to expand to 750 beds. The facility is a state of of the Arts Facility with 34 mobile homes with 1 and 2 bed units fully furnished, 6500 SF dining and recreation, commercial laundry facility, maintenance facility, and 3 on site wells. The site has been improved to military specifications.
The Borrower own the Land only, not the dwellings. The income is generated via a Land lease. They are expanding the number of beds to 750 and the Land owner must make improvements to the land to support the expansion.
Please provide me with a Term Sheet for the scenario.
The company is seeking $1.1MM
1) Collateral is the Land which should be appraised at plus $20MM