Modern Atlanta, GA New Construction Loan

Modern Atlanta, GA New Construction Loan Highlights

With 5,700 square feet of living space, this new construction home is nestled comfortably in the peaceful neighborhood of Brookhaven. Brookhaven is one of the most highly sought-after markets in Atlanta for home buyers today. The home will be brand new construction on .3 acres of flat land with a walk out backyard. The two-story home with a basement features 6 bedrooms, 6.5 bathrooms, an open floor plan and walk out backyard with a pool and spa. It also includes a 2 car garage, finishes basement with exercise room,  sauna and basement bar. The lack of inventory in the market is continuing to drive prices higher every month and interest rates remain at an all-time low which makes this deal very attractive.

About the neighborhood

In 2020, Niche ranked Brookhaven the third Best Suburb for Young Professionals in Georgia (out of 165) and the 29th Best Place for Young Professionals in Georgia (out of 397). Additionally, the city was ranked 21st in the list of Best Suburbs to Live in Georgia (out of 165).

It’s no wonder homeowners and families are finding DeKalb County’s Brookhaven the perfect place to call home. Not only is it filled with one-of-a-kind local shopping, dining and cultural opportunities of its own, but it’s location just north of Buckhead and inside the Perimeter is also convenient to metro-Atlanta’s many employment centers, best health care, and myriad of entertainment venues. To learn more about the fun and opportunities in Brookhaven

About the developer

Paramount Homes has a solid track record with over 20 years of home building experience in Atlanta. The developer has built homes in Brookhaven, Smyrna, Roswell, Milton and Gwinnett County. The builder specializes in high end custom and spec homes, as well as neighborhoods of 10+ homes. The builder has purchased the land outright and is funding almost 40% of the development costs themselves making this a very good loan.

Why we like this loan

Brookhaven is right in Yieldi’s backyard and the team at Yieldi understands the market very well. The low leverage and developer’s track record makes this loan a great opportunity. The builder has a contract in place and the end user already has their financing secured as the exit from 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.

Seniority

The first-priority mortgage lien position is the most senior and highest priority within the capital structure. In the event that a borrower defaults, the lien priority determines the order in which lenders are repaid. Senior lenders are always repaid first. All subordinated positions, including the amount held by the Originator and its investor syndicate, act as a buffer in the event of a deterioration in the Properties’ value.

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.