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Sparks Golden Holdings, LLC
Residential • Acquisition • Sparks, NV 89436
Loan Number: #L0000021
Available
$6,000
Investor Interest Rate
9%
Maturity Date
4/28/2022
Investment Summary
Sparks Golden Holdings, LLC
Residential • Acquisition • Sparks, NV 89436
Loan Number: #L0000021
Available
$6,000
Investor Interest Rate
9%
Maturity Date
4/28/2022
Sparks Golden Holdings, LLC
Residential • Acquisition • Sparks, NV 89436
Loan Number: #L0000021
| Full Commitment | $8,000,000 |
| Available | $6,000 |
| Investor Interest Rate | 9% |
| Minimal Investment Amount | $1,000 |
| Maturity Date | 4/28/2022 |
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About
About this property
Property Address
Sparks, NV 89436
Property Details
Sparks Golden Holdings, LLC acquired a nearly 15-acre parcel of land approximately 13 miles north east of downtown Reno, NV. The borrower is acquiring these nearly 15 acres from the seller who has tentative approval for a master plan consisting of over 40 contiguous acres of land. Within the masterplan, only the 15 acres the borrower is acquiring will be constructed into apartment units. The remaining acreage will be used for commercial space and condo units.
Please note the address listed is not the property address. It is only provided for reference purposes.
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
Sparks Golden Holdings, LLC
Payment
Borrower's interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Investor interest is paid in arrears on the 1st of each month.
9
Term
9 months with an optional 6 month extension available to the Borrower for a total of 15 months.
Maturity Date
4/28/2022
Maturity date can fluctuate and is dependent on the date the loan funds.
Borrower
Sparks Golden Holdings, LLC
Sparks Golden Holdings, LLC is a special purpose entity set up by TRU Development, the development company running this project, specifically for this asset. TRU Development is a developer based in Southern Nevada with over 40 years of general contracting experience combined with over 60 years of commercial development experience. TRU Development manages each project from cradle to grave. They have successfully developed over 1300 condominium and multi-family units in Nevada and Arizona with extensive experience in retail, office, industrial and self-storage development. The goal of TRU Development Company is to build quality projects that exceed expectations while building strong relationships.