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Properties

Krause's Sofas
KRAUSE'S SOFAS
VARIOUS LOCATIONS CALIFORNIA


 
Description

Investment Date: March 1992 and July 1992

Investment Cost: $2.0 Million

Improvement Cost: N/A

Sale Price: $2.5 Million

Sale Date: 1993

IRR: 25%
Two loans secured by leasehold rights on four retail stores in Southern California and a pledge of stock in various holding companies.

Strategy

Made mortgage loans to a strong retail furniture chain experiencing a temporary cash shortage due to expansion. The loans were paid off as scheduled in 1993.

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Charter Capital Management, Inc.