$2,100,000
Land Loan

Acquistion
Mira 99
Tolleson, AZ
21 Acres of Land

Principals of Schelin Uldricks & Co. secured a 62.5% LTV non-recourse land acquisition loan to acquire and flip 21 acres of land near the 10 freeway in Tolleson, Arizona. The loan included a land swap provision whereby the purchaser closed on the acquisition of 2 parcels and later swapped one of the parcels with an adjacent land owner. The lender underwrote both sites and included documentation allowing the swap after close.