Revere Capital provides a $3,900,000 bridge to construction loan

• Loan secured by a 1^st lien on land entitled for a multifamily development
• Secondary collateral includes 2^nd liens on a commercial land parcel and a single-tenant industrial building
• Loan term is six months

Revere Capital funded a loan totaling $4,100,000 secured by an office tower, a small undeveloped land parcel and an assignment of a multi-level parking garage lease in Pontiac, MI.

• Loan proceeds were used to acquire the office tower, an adjoining undeveloped land parcel, and also capitalize a reserve account for future CapEx
• Loan with time needed to negotiate new leases to stabilize occupancy
• Loan required a quick closing to satisfy the terms of an agreement between the  City of Pontiac and the seller who obtained a judgment against the City

Revere Capital funded 50% of a $4,000,000 loan secured by a second lien in a ~11,000 sf house in Malibu, CA. The loan term is four months and will provide the sponsor, a former NBA player who played for 21 seasons and is in the Hall of Fame, with additional time to market and sell the house.

• Loan proceeds were used to bridge to a sale
• Term is four months
• Loan closed in less than one week

Revere Capital funded a $3,185,000 loan secured by a 693-unit self-storage facility in Clarksville, TN. The loan was used by the sponsor to fund a capital expenditure reserve to be used for value-add projects at the property during Revere’s loan term.

• Loan proceeds were primarily used to acquire the property
• Loan term is 18 months with one extension for 6 months

Revere Capital funded a $7,800,000 loan secured by a 29,685 sf, two-story Class B multi-tenant office building in Austin, TX. The loan was used by the sponsor to acquire the property. The sponsor is a repeat customer of Revere Capital. The loan will amortize down to $6,200,000 during the loan term which will facilitate a refinancing with conventional debt financing.

• Loan provided the sponsor with 75% loan to purchase price proceeds
• Sponsor is a repeat customer of Revere

Revere Capital funded a $5,000,000 loan secured by a first lien on two land parcels that are slated for the development of manufactured housing communities.

• Proceeds were used to refinance existing debt
• Property is currently occupied by the government in response to COVID-1

• This loan is a strategic purchase of a small apartment project in the Media Center redevelopment area of Burbank.
• Circa 1940’s construction, with stable in-place occupancy due to the property’s irreplaceable infill location.
• 67% loan to purchase, for a 2-year initial term, with a 1-year extension option.
• Revere structured with “soft” additional collateral to mitigate the <1:1: initial DSCR.
• The property is surrounded by Universal Studios, Disney, Dolby, NBC.

• Revere Capital funded this $3.5 million loan secured by a first lien on a 41-unit multifamily property in Austin, TX
• Proceeds were used to acquire the property and for capital improvements to the units
• The property is over 90% occupied and is located in an up-and-coming area of Austin
• Transaction closed in under one month