Revere funded a $9,000,000 loan on a +/-538.99 acre tract of land entitled for residential lot development in Justin, TX. The loan was used to refinance the existing mortgage and to fund remaining predevelopment cost. The plan is to complete the MUD creation and repay the loan upon sale to a lot developer that has the parcel under contract.
Benton Harbor, MI
Revere Capital funded a $9,300,000 loan in three weeks for the acquisition of the leased fee interest in a 260,000 square-foot retail property sitting on a 48-acre lot.
- This is the 7th loan made for this Revere Capital repeat borrower
- Security comes from a 99-year ground lease on the leasehold improvements
- Property is occupied by several national and regional tenants
- Transaction closed in three weeks
Los Angeles, CA
Revere funded a $28,250,000 first mortgage secured by a newly built, class A multifamily property in the final stage of completion located in Los Angeles, CA. The loan proceeds were used by the sponsor to refinance the existing debt on the property and to fund the remaining construction costs.
Revere Capital funded a loan totaling $9,800,000 secured by a 100% leased Class A Industrial Property located in Tucson, AZ.
- Loan proceeds enabled Sponsor to refinance existing debt and bridge the time needed to execute a lease extension and fund the associated costs.
- Revere's collateral consisted of the First Deed of Trust and a personal guaranty from the Sponsor which will void upon execution of the lease extension.
Revere Capital funded a loan totaling $3,850,000 secured by a 15-acre tract of land in Nashville, TN zoned senior living
- Loan proceeds were used to recapitalize the project and fund remaining predevelopment cost
- Loan provided the sponsor with 43% of appraised value
Revere Capital makes a $17,000,000 preferred equity investment in a 737-unit multifamily property in Houston, TX
- Investment proceeds were used to buy out the existing preferred equity partner.
- Revere was able to navigate the approval process with the existing CLO lender and provide a quick close.
- Revere provided the Sponsor the ability to season the rent roll with the goal of selling the property or attaining long term senior financing.
Revere Capital funded a loan totaling $5,000,000 secured by a boutique office building located in the pedestrian core of downtown Aspen, CO.
- Loan proceeds were used to acquire the property
- Loan provided the sponsor with 75% loan to purchase price proceeds
- Quick closing satisfied the terms of the purchase agreement