Austin, TX
Land
$12,900,000
Loan Amount
Revere funded a $12,900,000 loan on a +/-14.80 acre tract of land entitled for multifamily development in Austin, TX. The loan was used to retire the existing debt and provide a bridge to construction financing. The loan provided the sponsor with 50% LTV. Revere was ready to close in three weeks.
Ferguson, MO
Multifamily
$5,900,000
Loan Amount
Revere Capital funded a $5,900,000 loan secured by a Ground Lease on a 414-unit multifamily property located in Ferguson, MO, a suburb of St. Louis. The loan is to a repeat Revere borrower with a track record of success. The loan proceeds were used by the Borrower to acquire the leased fee interest in the property. The property is currently 70% leased and will undergo interior renovations as units turn over, with immediate repairs and improvements to the parking lots and grounds.
Groton, CT
Multifamily
$6,900,000
Loan Amount
Revere funded a $6,900,000 loan secured by a 107-unit, multifamily property located in Groton, Connecticut. This is the 9th loan to this repeat borrower of Revere’s. The loan proceeds were used by Borrower to acquire the leased fee interest in the property. The property is currently 98% leased and will undergo interior renovations as units turn over.
Chicago, IL
Retail
$22,250,000
Loan Amount
Revere Capital funded a $22,250,000 loan for the acquisition of a 123,500 square-foot retail center located in Chicago, IL. The center has an excellent leasing history and is currently 93% leased to regional and national tenants. The center is a vital resource to the surrounding community.
- Property consists of three multi-tenant buildings along with a single-tenant Walgreens and an adjacent pad under negotiation with Starbucks.
- Property is occupied by several national and regional tenants.
- Shadow anchored by a call center that provides heavy daily foot traffic, in addition to the dense local neighborhood.
Justin, TX
Land
$9,000,000
Loan Amount
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
Retail
$9,300,000
Loan Amount
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
Multifamily
$28,250,000
Loan Amount
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.
