Rhino Holdings Jackson, LLC

Commercial • Development • 1250 Boardman Rd, Jackson, MI 49202
Loan Number: #L0000038
Full Commitment $10,000,000
Available $2,999
Investor Interest Rate 9%
Minimal Investment Amount $1,000
Maturity Date 2/27/2023

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About this property

Property Address
1250 Boardman Rd, Jackson, MI 49202
Property Details
A larger shopping mall, approximately 136,000 square feet, located in Jackson, MI. Since acquiring the site in 2019, the borrower has updated the property to new building codes. Going forward, the borrower needs additional capital for specific tenant improvements to new suites. With 90% occupancy, this asset will generate great cash flow to make it easy to get refinanced.
How the funds will be used

Development

Borrower will utilize funds to refinance the property and complete renovations.
How the funds will be used

Development

Borrower will utilize funds to refinance the property and complete renovations.

Financials

Borrower
GGD Oakdale, LLC
Loan Offering
$10,000
Full Commitment
$10,000,000
Yield
9%
Payment
Borrower interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period.
* 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
Development
17
Term
9 months with a 9 month extension for a total of 18 months.
Maturity Date
2/27/2023

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

Valuation Amount
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Loan to Value Ratio
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Exit Strategy
Sale or refinance of the property upon completion.

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.