Looking for Loan for 4.5 to 6 Million.
The project is located in Philadelphia, PA. There is a 12.1 acre parcel of land which has been fully approved to construct 483,000 Sq Ft. of commerical space. Its a 1 year 1st mortgage @12% on 12 million in land (assessed value March 2011) copy available upon request.
Serious players only.
Thank you.
La Joyce
Replies
Tim,
Assesed and certified in march 2011.
Looking for 4.5mm 1st against land
terms 12% for 1 year so tthat project can get going
not yet linning up tennants
In your request for funding, you did not indicate that any part of the funds will cover the Entitlements. It will be very hard for you to secure a raw land loan, for acquisition or construction if the Entitlement work is not completed first. My group just completed a 340,000 sq ft shopping center in Philadelphia 11 months ago. {Park Town West] on North 52nd street. Lowe's is one of our anchors. Trust me, it was not easy. If it were not for the owner participation, Federal Tax credits, Political help, and a great Marketing plan that encouraged a Bank to finance 65% of the project, it would still be just raw land. We would be willing to lend our experience, as well as share our success with you if you are interested.
Cornell j. Covert
215-360-1198
cornellcovert@yahoo.com