Cash Out Refinance on Luxury Townhome in Boston, MA
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This transaction involves a cash-out refinance for a property located in the Back Bay area of Boston, Massachusetts. The property is a luxurious townhome encompassing approximately 2,582 square feet. It features high ceilings, hardwood floors, and elegant finishes throughout. The residence includes three bedrooms and three and a half bathrooms, a gourmet kitchen equipped with top-of-the-line appliances, marble countertops, and custom cabinetry.
The borrower seeks additional funds as working capital to support the rollout of their new product line to major financial institutions worldwide. The refinancing will also consolidate an existing mortgage and a home equity line of credit on the property, with Yieldi taking 12 months of interest reserves.
Cash Out Refinance on Luxury Townhome in Boston, MA Details
Structure
- Tax Document
- 1099-INT
- Offering Structure
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BPDNx
SENIOR BPDN - PROMISSORY NOTE SECURED BY COLLATERAL SECURITY AGREEMENTTHIS PROMISSORY NOTE IS SECURED BY THE ISSUER'S PLEDGE OF THE RELEVANT UNDERLYING COLLATERAL LOAN (AS DEFINED BELOW) TO THE LENDER (AS DEFINED BELOW) UNDER THE COLLATERAL SECURITY AGREEMENT AND PROMISSORY NOTE. HOWEVER, EXCEPT TO THE LIMITED EXTENT PROVIDED IN THE PROMISSORY NOTE WITH RESPECT TO THE UNDERLYING COLLATERAL LOAN, THIS NOTE IS NON-RECOURSE TO THE ASSETS, FUNDS AND ACCOUNTS OF YIELDI, LLC (THE "BORROWER", "COMPANY" OR "ISSUER") OR ANY OF ITS AFFILIATES, EMPLOYEES, AGENTS, STOCKHOLDERS, PARENTS, OR SUBSIDIARIES EXCEPT TO THE EXTENT OF THE VALUE OF COLLATERAL LOAN NET PAYMENTS ACTUALLY RECEIVED IN RESPECT OF THE UNDERLYING BORROWER LOAN.
Example Return on Investment
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Investment Amount:
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Annual ROI:
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Why We Like This Opportunity
Cash Out Refinance on Luxury Townhome in Boston, MA Highlights
This transaction involves a cash-out refinance for a property located in the Back Bay area of Boston, Massachusetts. The property is a luxurious townhome encompassing approximately 2,582 square feet. It features high ceilings, hardwood floors, and elegant finishes throughout. The residence includes three bedrooms and three and a half bathrooms, a gourmet kitchen equipped with top-of-the-line appliances, marble countertops, and custom cabinetry.
About the Neighborhood
The property is located in the prestigious Back Bay neighborhood of Boston, one of the most sought-after residential areas in the city. Back Bay is renowned for its beautifully preserved 19th-century urban design and architecture, featuring iconic brownstone homes and historic buildings. The area offers upscale shopping on Newbury and Boylston Streets, fine dining, and cultural attractions such as the Boston Public Library and the Prudential Center. Its proximity to the financial district, major universities, and accessible public transportation makes it highly desirable for professionals and families alike. The strong real estate market in Back Bay adds to the property’s value, providing a secure investment for the lender.
Why We Like this Opportunity
The borrower is an experienced professional with a strong background in financial consulting and asset management. With a solid credit history and strong financials, the borrower has demonstrated expertise in managing substantial client assets and consulting on significant portfolios.
The borrower plans to repay the loan through the increased revenue generated by the successful rollout of their new product line. As the product is introduced to major financial institutions globally, the expected growth in business income will provide the means to pay off the loan in full.
In the event that sufficient revenue is not generated within the anticipated timeframe, the borrower has agreed to list the property for sale in six months to ensure repayment of the loan.
Experienced Borrower
The borrower is a successful real estate investor in high-end real estate industry in Florida. He’s sold multiple Florida homes for over $2M+ and has a high net worth and strong liquidity.
Personal Guarantee
The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.
Upfront Reserve
The Loan is structured with interest reserve for further protection. 12 months of debt service payments will be collected at closing.Investment Summary Of Cash Out Refinance on Luxury Townhome in Boston, MA
Investors have an opportunity to invest in borrower payment dependent notes, the cash flow of which is dependent on the payment of interest and principal repayment on the Loans. Investors are scheduled to receive an annualized monthly interest payment of Login for details over the Loans' estimated remaining term of 12 Months. Principal is expected to be returned on or before maturity through a refinancing with a traditional bank loan. It is important to note that the Loans are eligible for prepayment, and principal may be repaid prior to the 12 Months estimated remaining term. If the Loans are paid off before maturity, investors are expected to receive at least three months of interest payments in addition to return of principal.
How Do I Get Paid?
This loan had an initial term of 12 Months with an option at Yieldi's discretion to extend. As of November 13, 2024 there are 12 Months remaining. Investors will immediately receive monthly interest payments at an annualized rate of Login for details on the principal balance over the life of the loan. If you invest in this loan in the middle of a month, you will receive a prorated interest payment for your investment for your first investment month and then full monthly payments thereafter. All payments are made automatically via ACH on the 1st of each month and investors all paid by the 10th of the month.
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