Williamson - Bothell
Deal Overview
Project Overview: A 9-12 month horizontal land development project with MSR Communities in Bothell, WA, with plans to either build six 5,000 sq ft luxury homes or sell as custom homes. The project has a strong $6.4MM finished value and multiple exit strategies.
Top-Tier Borrower: MSR Communities, a leading developer with over 15 years of experience and $50MM+ in successful loan exits with LIONSCOVE. MSR has a 760+ FICO score and substantial liquidity.
Two Investment Options:
1st Position Lien (10% Annualized Target Return): An option with a 66% loan-to-cost ratio, offering a lower-risk investment with a $1.62MM raise amount and a 55% finished loan-to-value (LTV).
Pseudo-Equity 2nd Position (15% Annualized Target Return): A higher-yield option with a 24% loan-to-cost ratio, subordinate to the 1st position but ahead of borrower equity, with a $1.25MM raise amount and a 75% finished LTV.
Key Metrics:
Total Loan Amount: $3.52MM (1st) and $4.77MM (1st & 2nd)
Current LTV: 54% (1st), 97% (1st & 2nd)
Loan Term: 9-12 months
Interest Reserve: Interest reserve that will cover interest payments for the life of the loan
Minimum Investment: $100,000
Closing Date: 11/26/2025
Investor Benefits: Pro-rata ownership in the note and deed of trust, quarterly distributions starting January 2026, and principal repayment upon loan payoff (estimated 9-12 months).
If this deal is of interest or you would like more information, please contact Jeff Harvey at [email protected] or fill out the form below.
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