Fort Lauderdale, FL Bridge Loan
Log In
8,786 square feet of commercial space positioned on approximately 1.15 acres located on the corner of NE 33rd Street and N Andrews Avenue in Fort Lauderdale, Florida with excellent drive-by visibility.
Fort Lauderdale, FL Bridge Loan Details
Structure
- Tax Document
- 1099-INT
- Offering Structure
-
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
-
Investment Amount:
-
Annual ROI:
-
$0
Why We Like This Opportunity
Fort Lauderdale, FL Bridge Loan Highlights
8,786 square feet of commercial space positioned on approximately 1.15 acres located on the corner of NE 33rd Street and N Andrews Avenue in Fort Lauderdale, Florida with excellent drive-by visibility. Housed in this location since it was founded in 2007 is Care and Share Christian Academy. Care and Share offers K1 – K4 instruction as well as Kindergarten – Fourth Grade classes.
Location
Located in Fort Lauderdale, FL, on the corner of NE 33rd Street and N Andrews Avenue. Fort Lauderdale is the largest of Broward County’s 31 municipalities and one of the ten largest cities in Florida. Once known strictly as a tourism-based economy, Fort Lauderdale now supports a diverse range of industries, including marine, manufacturing, finance, insurance, real estate, high technology, avionics/aerospace, film and television production. Fort Lauderdale is establishing itself as a world-class international business center and one of the most desirable locations for new, expanding or relocating businesses.
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.What Should I Consider When Investing in Fort Lauderdale, FL Bridge Loan?
Borrower Risk
The Borrower may not have represented itself accurately. Risk Mitigation- The Originator checks the Borrower's credit history via a third-party credit reporting company. The Borrower has a 700 credit score.
- The Originator considers the underlying asset to be the primary source of security.
- If the Loans are not fully repaid after the Lender has exhausted other sources of repayment, the Borrower has provided a personal guaranty to fulfill any deficiency.
Default Risk
The Borrower may default on his financial obligations. Risk Mitigation- If the Loans are not fully repaid after the Lender has exhausted other sources of repayment, the Sponsor has provided a personal guaranty to fulfill any deficiency.
- In the event of a default, a direction letter signed at closing by the Borrower will be sent redirecting the Tenant to make rent payments into an account controlled by the Originator.
Vacancy Risk
The Tenant may vacate the leased properties. Risk Mitigation- The Tenant is an investment grade rated company with sizable financial resources.
- Under the triple-net leases, the Tenant is under multi-year contract to pay rent with no option to terminate.
- If the Tenant decides not to renew any of the leases or to vacate the leased premises, the Borrower will pay for an appraisal of the property “as vacant” and the borrower will have to provide the additional cash collateral and/or pay down the loan (or any combination in between) within ten days of receipt of the appraisal in order to bring the property back to an LTV.
Investment Summary Of Fort Lauderdale, FL Bridge Loan
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 October 21, 2022 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.
Additional Resources
Personal Loans for Bad Credit Guaranteed Approval: A Path to Financial Relief
Securing a personal loan when you have bad credit can be daunting, but it’s not impossible. Lenders understand that financial difficulties happen, and many offer personal loans for bad credit guaranteed approval to help borrowers get back on track. These loans provide access to funds even for individuals with poor credit histories, offering a lifeline…
Real Estate Investments That Pay Monthly
Real estate has long been seen as a pathway to building wealth, but traditional property investment involves substantial costs, time commitments, and market risks. Fortunately, innovative platforms like Yieldi now provide a modern solution: real estate investments that yield monthly income without the responsibilities of owning property. How to Invest in Real Estate Without Buying…
Bridge Loan Lender Near Me: Your Guide to Short-Term Financing Solutions
In today’s fast-paced real estate market, securing financing at the right time is crucial. If you’re in the middle of buying a new property but haven’t sold your current one, a bridge loan might be the perfect solution. You may have asked yourself, “Where can I find a bridge loan lender near me?” This article…