| Term: | Initial Value: | Built Value: | Initial Raise: |
|---|---|---|---|
| 36 mths | $7 M | $42 M | $3.5 M |
King City is a new greenbelt community from Fortress Real Capital and Pace Developments. Its convenient location will give residents looking for countryside living with close access to urban amenities, the best of both worlds. With a build option part of the current Official Plan and the ability to seek increased density, King City offers numerous opportunities to investors.
Terms at a Glance
36 month term, 8% interest earned annually, interest paid quarterly, variable deferred lender fee based on density achievements, see contract. 85% Loan to Value ratio.
Use of Proceeds
Assisting with land acquisition, acquiring equity participation, funding development process including architectural drawings, reports and permit applications.
Available Supporting Documentation
Appraisal, site plans (3 scenarios), Proformas (3 scenarios) pro-forma.
Updates
Feb 2012: Closing on land March 30, 2012.
Mar 2012: Development concept, architectural plans and details are underway. Space for sales office has been acquired.
Apr 2012: Preliminary surveying is underway. A planner familiar with the municipality and their requirements has been appointed. Preparation of a concept plan is underway.
