French Quarter New Orleans LA

A unique property development for projected 167 units in the French Quarter of New Orleans. Purchase $60M for the entire block of real estate along with hotel lease for x amount of years. (x = to be negotiated between 25 and 99 years.)
Value after entitlements is reported to be $100M. Seller is offering to spend $95K on architectural submission to the city upon valid accepted offer prior to closing escrow to determine the exact amount of units the city will allow.
Add historic credits around $20M and this seems like a Hot deal for the right parties.

Funds Needed: Proof of funds required to make offer.

Loan Position: Purchase – New Development

Term:

Interest Rate:

LTV:

Amount of Equity Securing Investment: $40M