Page 19 - Nikols - Annual Report 2022

$4.1 MILLION LOAN
Industrial Building Construction,
Rancho Cucamonga, CA
Purpose Collateral LTV Terms Exit Strategy Comments fi One industrial building with two-story office space (6% build-out) totaling 23,800 SF gross
nt d a h on a 73% maximum loan to stabilized value.
8% interest, 12-month term, 2% loan origination fee.
il al xp Vaca to ial bui nd th in di is bu .
$3 in di $3.7 MILLION LOAN
De National City, CA
Purpose led for 96 pa tmen uni s.
Colla Collateral i entit ed f r 96 ap s.
Colla rtment u its 2 .
L 4-acre si e tha LTV is alue .
T Terms st 12-mont term. 2% loan ri inat on fee.
Exi tegy Constru tion loan tak Comments s High demand in mpleted 9 ill apar me de pm t loc tio in South Bay Sa Die o mar et in con rea whe e t e Sponsor
h p s c demand in mpleted 9 new apartmen developme ar a ts o et in con ludi ower g on the s te et in con iguous o the su ect
h p operty. Al 9 roperties re p de pm es rf it a rming we l in terms of oth dur occup cy and r nts. Bor entitl d site oth dur ng e crow and wi l conti ue to p ert oce s permits fo 20