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| 1611 LABRANCH LENDERS LP |
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| LALEE LIMITED (updated 1/15/05) |
UPDATE |
| Partnership Formed: |
1611 Labranch Lenders, LP (3533526) |
| Loan Status: |
Default; property for sale by borrower |
| Borrower / Developer: |
Lalee Limited, Randal M. Hall |
| Develop / Project Stage: |
City block for sale |
| Project Name: |
La Branch |
| Property Address: |
Downtown Houston, TX |
| Guarantor: |
Randal M. Hall |
| Loan Funding Term: |
12 months |
| Original Loan Amount: |
$2,250,000 15% 3/30/2001 |
| Principal Balance: |
$1,796,756.00 |
| Stage Funding Due: |
Unknown |
| Title of Property: |
Lalee Limited |
| Lien: |
First |
| Advances by Premiere: |
None |
| Exit Strategy: |
Resale |
| General Partner: |
Roosevelt Advisors GP, LLC |
| Loan Maintenance by: |
Roosevelt Advisors GP, LLC |
| Opinion: |
Wilbanks & Gilman, P.C. 3/30/01 |
| Description of Prop: |
Vacant Land / Parking Lot, 37,500 sq. ft. of city block; LaBranch @ Leeland @ Crawford
1/15/05 The partnership has a first lien. The value of the land and potential sales price should easily pay the principal balance of the loan.
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Photo of Property, if available:
Notice: The information contained in this summary has been acquired by several sources; there are no warranties expressed or implied as to its accuracy and completeness. All information should be independently verified. Nothing contained on this site should be construed as legal advice. If you have legal issues, you should consult an attorney.
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