Le Lézard
Classified in: Business
Subject: RLE

Prescient Capital Bridge Loan Transaction Overview - RV Park (Moore Haven, Florida)


DELAFIELD, Wis., July 27, 2021 /PRNewswire-PRWeb/ -- Prescient Capital Management recently closed a short-term bridge loan on a RV Park based in Moore Haven, Florida. The strategic goal of the Borrower was to use the proceeds from the Prescient Capital loan to refinance out of a seller-financed loan. The loan request is for $1,930,000, and Prescient Capital secured the loan with a 1st lien on the cash-flowing RV Park. The RV Park has 87 pads and a 12-acre site. Once developed, the 12-acre site will add an additional 60 pads.

The RV Park has an "as is" net operating income (NOI) run rate of $216,000, resulting in an 11.20% debt yield. Prescient Capital utilized a broker opinion of value, and the BOV estimated the "as is" value of $3,525,000 and a loan-to- value (LTV) equal to 55%.

In addition to the primary Collateral, Prescient Capital secured the 2nd lien on three (3) other RV Park sites: 190 RV sites, eight apartments, and 42 park models. The BOV estimated the "as is" value of $6,500,000.

"The quick-close ability of Prescient Capital provided an advantage for the Borrower in achieving their long-term strategic goals," mentioned by Steve Young, Managing Partner and founder, PCM.

To further secure the Prescient Capital loan, the Borrower signed a personal guarantee with a combined net worth over $4,000,000.

About Prescient Capital
Prescient Capital Management, a boutique private equity firm formally founded in 2006, is focused on commercial real estate opportunities providing short-term bridge loans collateralized by commercial real estate or other quick-sale collateral. Additionally, the team looks to invest in situations where assets are undervalued and misunderstood due to capital and organizational structure complexity, with an identifiable catalyst for revaluation. Prescient Capital has a long track record of originating, funding, servicing, and exiting private loan transactions to commercial real estate owners. http://www.pcm-funding.com / LinkedIn

Media Contact

Steve Young, Prescient Capital Management, 262-244-0797, [email protected]

Carrie Niese, Prescient Capital Management, 262-337-9825, [email protected]

 

SOURCE Prescient Capital Management


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