Rodeo Capital, Inc. Closes a $6,870,000 Purchase of 16 acres of Commercially Zoned Land in St. George Utah
The subject property is 700,000 sq ft (16 acres) of commercially zoned land located in one of the fastest growing cities in the country; Saint George Utah. There are 15 designated retail pads with 6 drive-thru’s approved and 10 leases pending (including McDonald’s, Starbucks and Albertsons). Borrower was able to acquire property for over 35% below recent comps. Borrower will exit the loan through development financing or sales of the individual pads.
- 47% Loan to Value
- Seller Carry
- Built-In Interest Reserves
- Fund Controlled Cash Out for Further Property Development
- Land Deal Closed in One Week