|
.. |
| Partnership Formed: |
Lakeside Funding, LP |
| Loan Status: |
Foreclosed March 2001 |
| Borrower / Developer: |
Unknown |
| Develop / Project Stage: |
98% complete by Allegro Builders. |
| Project Name: |
Norfolk Tri-Plex |
| Property Address: |
1646, 1648, 1650 NORFOLK |
| Guarantor: |
None |
| Loan Funding Term: |
36 months due 11/1/2002 |
| Original Loan Amount: |
$695,000.00 15% |
| Principal Balance: |
$695,000 |
| Stage Funding Due: |
None |
| Title of Property: |
Big State Properties, L.L.C.
Foreclosure on Montana Development, L.L.C. (Nick DiMinico) |
| Lien: |
Unknown |
| Advances by Premiere: |
$535,201.35 plus attorneys fees and all other Premiere out of pocket costs; interest advanced =$111,200.00; insurance = $7,147.29; construction rehab = $363,635.92; John Spear fees = $1,718.77; sewer line completion = 50% of $102,000.00 or $51,500.00. |
| Exit Strategy: |
Sale of homes |
| General Partner: |
Roosevelt Advisors GP, LLC |
| Loan Maintenance by: |
Roosevelt Advisors GP, LLC |
| Description of Prop: |
Three town homes located at 1646, 1648, 1650 Norfolk; 3-stories in a U-shaped format with common driveway. |
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.
 |