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| ENERGY LENDING |
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| HARBOR TREE PARTNERS - update 1/31/03 |
UPDATE |
| Partnership Formed: |
Energy Lending, LP (3405620002) |
| Loan Status: |
Default - Property Sold (79% recovery) |
| Borrower / Developer: |
Harbortree Partners, Ltd |
| Develop / Project Stage: |
Harbor Tree Apartments |
| Project Name: |
Energy Park |
| Property Address: |
Vacant lot behind McGinnis Cadillac, off I-10, Houston, TX |
| Guarantor: |
None |
| Loan Funding Term: |
36 months-matured 9/24/01 |
| Original Loan Amount: |
$4,000,000 14% 9/23/98 |
| Principal Balance: |
$4,000,000.00 |
| Stage Funding Due: |
None |
| Title of Property: |
Harbor Tree Partners, Ltd. |
| Lien: |
First |
| Advances by Premiere: |
None |
| Exit Strategy: |
Sale of Property |
| General Partner: |
Washington Advisors GP, LLC |
| Loan Maintenance by: |
Washington Advisors GP, LLC |
| Description of Prop: |
Vacant lot behind McGinnis Cadillac, off I-10, Houston, TX; was originally to be a new office building, then changed to an apartment development. No construction started.
Property sold, 79% recovery.
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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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