GGD Oakdale, LLC | Illinois

Commercial • Acquisition • 7915 N. Hale Avenue, Peoria,, IL 61615
Loan Number: #L0000019
Full Commitment $6,250,000
Available
$25,000
Investor Interest Rate
9%
Minimal Investment Amount
$1,000
Maturity Date
6/13/2022
Borrower
GGD Oakdale, LLC
Loan to Value Ratio
62%
Investment window open for 8 more days
0% Funded

Investment Calculator

$
MOS
%
{{ calculate | money({prefix: '$', precision: 2, decimal: '.', thousands: ','}) }}

About this property

Property Address
7915 N. Hale Avenue, Peoria,, IL 61615
Property Details
The collateral for this loan is a flex office building totaling 100,625 square feet located about 150 miles southwest of Chicago, IL, in Peoria, Illinois. 15% of the building is vacant, however these suites have best visibility and are expected to lease quickly. The remaining 85% is occupied by DHL Logistics and OSF Healthcare. OSF Healthcare moved to this location in 2011 and currently leases over 70% of the space. It is anticipated they’ll renew their lease in 2022, when it expires. Ignite Funding believes in the viability of this project given the strong tenants and cash flow, along with the borrower’s extensive experience in acquiring and leasing properties.
How the funds will be used

Acquisition

Borrower will utilize funds for the acquisition of the property.
How the funds will be used

Acquisition

Borrower will utilize funds for the acquisition of the property.

Financials

Borrower
GGD Oakdale, LLC
Loan Offering
$25,000
Full Commitment
$6,250,000
Yield
9%
Payment
Interest payments are paid monthly, between the 1st and the 5th of the month.
* Notes are structured as borrower payment dependent notes, not secured by any Connect Invest assets. Please review our Privacy Placement Memorandum for additional information.
Type of Project
Commercial
Phase of Project
Acquisition
18
Term
9 months with one optional 9 month extensions available to the Borrower for a total of 18 months.
Maturity Date
6/13/2022

Maturity date can fluctuate and is dependent on the date the loan funds.

Valuation Amount
$6,250,000
Loan to Value Ratio
62%
Exit Strategy
Sale or refinance of the property expected a year after loan origination. Borrower will execute Full Recourse Guaranty.

Borrower

GGD Oakdale, LLC
GGD Oakdale, LLC is a special purpose entity established by Sanjiv Chopra as the real estate arm of the borrower. The borrower has extensive experience in real estate development over the last decade with over $200 million in commercial real estate transactions. Through the acquisition and leasing of properties throughout the west coast the borrower’s expertise has potentially added value to many communities. Our partner Ignite Funding has been a part of funding some of those projects.