Post a new topic
    2 Replies Latest reply on Mar 8, 2008 3:21 AM by wbproperties

    Need investor partner(s) to acquire 238 acres in Camden, SC

    wbproperties Newbie
      Seeking investor partner(s) with $800K for the purchase of 238 acres of land with current preliminary approvals for 40 lots; density will be increased to sixty (60) 1-acre lots, with full entitlements, and priced at ~$60K per lot. Owners are providing Seller financing and deferring pmts up to one year. Must act with sense of urgency! Need to open escrow this week!

       

      Investor funds will be secured with 1st Trust Deed on 50-acres.

      Please call: (858) 427-0680. ASAP
        • Re: Need investor partner(s) to acquire 238 acres in Camden, SC
          LUCKIEST Guide
          Welcome to this web site. Tell us more.
          Do you have a Business and marketing Plan??
          How about an Accountant??, Lawyer??
          How do you plan on repaying partners??
          *How soon is Must act with sense of urgency**??*
          LUCKIEST
            • Re: Need investor partner(s) to acquire 238 acres in Camden, SC
              wbproperties Newbie

              WBP is seeking capital partner(s) to contribute $1 Million as start-up capital, to complete acquisition, mapping and entitlement of 238 acres-$500,000 used to acquire the 50-acre parcel (an initial, refundable deposit of $50K used to secure purchase, with a final down payment of $450K), and $500K to complete the 1st and 2nd phases of development.

               


              q Improved Land Value at completion, is estimated at: $12 Million

               


              q For the construction Phase of the development process (vertical development/construction), Ward Brandon Properties, Inc will require approximately $9,965,200 in equity capital from capital partner(s). Based on a 75% loan to cost, and 25% equity; with 70% of equity from capital partner(s)

               

              Ø Start-up capital partner to receive accrued, preferred and compounded return of 12%; with a 5% share of distributable cash after repayment of debt, return of equity and return on equity.

               

              Ø Equity Capital partner to receive a 10% accrued, preferred and compounded return; along with 70% of distributable cash after repayment of debt, return of equity and return on equity.

               


              As managing member of Lucknow Place, LLC, WBP will leverage the improved land asset to contribute its 30% equity share (Approx: *$4,270,800*) as co-investment for the development of The Cottages project.

               

              Please request executive summary at: wozaeta@wardbrandon.com