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7 Kent, New Milford

$370,000
Amount Raised
$470,000
Goal
79% Complete (success)
79%
No time left
Invest

Raise Details

  • Gross Offering
    $470,000 USD
  • Available Units
    1.00
  • Minimum Investment
    $10,000 USD
  • Maximum Investment
    $470,000 USD
  • Open Date
    Jun 14,2022
  • Closing Date
    Jul 31,2022
  • Investment Type
    First Mortgage
  • Maturity
    12 months
  • Real Estate Use
    Office
  • Maturity End Date
    Jul 31,2023

Type

Type Number of Units Available Units Cost per Unit Payback Per Unit Gross Offering Annual Yield Effective Yield Term
Senior A 3.00 1.00 $93,000.00 USD $100,000.00 USD $300,000.00 USD 14.00% 15.05% 12 months
Senior B 2.00 0.00 $45,638.00 USD $50,000.00 USD $100,000.00 USD 17.45% 19.12% 12 months
Junior C 2.00 0.00 $31,063.00 USD $35,000.00 USD $70,000.00 USD 22.50% 25.35% 12 months
Totals 7.00 1.00 $470,000.00 USD

Executive Summary

Overview.  Four Arrow Funding Inc. (the “Lender”) is providing a $470,000 16% first mortgage loan (the “Loan”) secured by the 3,134 SF office property at 7 Kent Road, New Milford CT (the “Property”) to an entity formed by Thomas Maira (the “Borrower”) . 

The Property.  The Property is located at the traffic light connecting Route 7, Route 202, and Bridge Street, and directly in front of the Big Y Shopping center in New Milford. Great access to New Milford, Litchfield County, Brookfield, and Danbury.

Loan Term. The gross funded amount of the Loan is $470,000 less closing costs and interest reserve. The Loan term is one (1) year with the right to extend for six (6) months for a fee of $15,000. The is a first mortgage loan so the risk of principal loss is reduced.

Participations.  The Loan is divided into three (3) tranches and seven (7) units.  The Senior A  has three (3) units priced at $100,000 per unit paying 14.0% per annum prepaid for six (6) months with an effective annual yield of 15.5%. The Senior B  has two (2) units priced at $50,000 per unit paying 17.45% per annum prepaid for six (6) months with an effective annual yield of 19.125%. The Junior C has two (2) units priced at $35,000 per unit paying 12.5% per annum prepaid for six (6) months with an effective annual yield of 25.35%.  The Lender will buy one Junior C unit.

Highlights

  • Retail and service-based uses
  • 3,134 SF situated on just under an acre of land.
  • Recently renovated with all new electrical, plumbing, HVAC, siding
  • Positive Sponsor Profile

Comments

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