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Properties

Bellows Farm
BELLOWS FARM
ACTON, MA


 
Description

Investment Date: July 1996

Investment Cost: $2.6 Million

Improvement Cost: N/A

Sale Price: $3.5 Million

Sale Date: July 1997

IRR: 24.4%
Loan secured by 117 home lot development in Acton, Massachusetts. The loan to value ratio was approximately 50%.

Strategy

A loan was made to the borrower to facilitate purchase of the property from the FDIC. After obtaining building permits, the loan was repaid in one year.

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