Sale Update:
Sale Update:
Sale Update:
Sale Update:
Here's a comparison between the Senior Housing and Condo Development projects:
| Senior Housing Development | Condo Development | |
|---|---|---|
| Unit Count | 105 | 28 |
| Average Unit Size | 407 Sq Ft | 1418 Sq Ft |
| BMR | 0 | 6 |
| Parking | One underground parking | Two underground parking |
| Number of floors | 6 | 5 |
| Estimated Completed Value | $90-95MM | $50-55MM |
| Estimated As-Is-Value | $15-20MM | $10-12MM |
We are progressing with the development at 4898 El Camino Real and facing several challenges in the building permit process for the condo development. As you are aware, securing the building permit for our condo development has been a complex process, compounded by difficulties in obtaining construction finance due to the recent spike in interest rates. and that's why we are currently considering all the options available now:
Here's a comparison between the Senior Housing and Condo Development projects:
| Senior Housing Development | Condo Development | |
|---|---|---|
| Unit Count | 105 | 28 |
| Average Unit Size | 1418 Sq Ft | 407 Sq Ft |
| BMR | 0 | 6 |
| Parking | One underground parking | Two underground parking |
| Number of floors | 6 | 5 |
| Estimated Completed Value | $90-95MM | $50-55MM |
| Estimated As-Is-Value | $15-20MM | $10-12MM |
Considering this, pursuing the senior housing opportunity seems the most prudent given the current scenario. We have started work on plans and entitlements for senior housing development.
We submitted the First preliminary Review to the City for the Senior Housing Project. We received feedback from the City of Los Altos for the proposed Senior housing building. We engaged an attorney to prepare the Density bonus report and working with our Architect to prepare a full Planning entitlement set.
We will also engage a landscape architect, Civil engineer, and Environmental consultant to prepare plans as per the City's requirements.
We look forward to submitting a full set for the city's review by the end of this month.
Please find the attached latest rendering for the Senior Housing project.
Building Permits:
Our focus remains on securing the required funds for our construction project while diligently addressing the comments received from the city. Simultaneously, we are exploring an alternative approach to convert the project into senior housing, with significant progress already underway. Our team has engaged reputable consultants to determine the optimal design for this purpose. We expect to receive a comprehensive update on the permit progress within the upcoming month, as our consultants are diligently finalizing the best design for senior housing.
Finance:
Positive strides have been made with our lenders, and we are pleased to report that the loan application has been formally submitted. Additionally, we have successfully secured a short-term loan amounting to $200,000, which will contribute to the ongoing financial needs of the project.
Sales:
In terms of our strategic options, we are actively evaluating two distinct approaches for the project's future.
Option 1 - Sale: While the property is temporarily off the market during the holiday season, we plan to reintroduce the listing in early next week. This reintroduction will be in collaboration with a seasoned broker, enhancing our efforts to maximize the property's market potential.
Option 2 - Construction: Upon obtaining the necessary permits, our intention is to commence the construction phase. The ongoing collection of construction funds is progressing as planned, aligning with our commitment to initiate construction promptly once all prerequisites are fulfilled.
Building Permits:
Our focus remains on securing the required funds for our construction project while diligently addressing the comments received from the city. Simultaneously, we are exploring an alternative approach to convert the project into senior housing, with significant progress already underway. Our team has engaged reputable consultants to determine the optimal design for this purpose. We expect to receive a comprehensive update on the permit progress within the upcoming month, as our consultants are diligently finalizing the best design for senior housing.
Finance:
Positive strides have been made with our lenders, and we are pleased to report that the loan application has been formally submitted. Additionally, we have successfully secured a short-term loan amounting to $200,000, which will contribute to the ongoing financial needs of the project.
Sales:
In terms of our strategic options, we are actively evaluating two distinct approaches for the project's future.
Option 1 - Sale:
While the property is temporarily off the market during the holiday season, we plan to reintroduce the listing in early next week. This reintroduction will be in collaboration with a seasoned broker, enhancing our efforts to maximize the property's market potential.
Option 2 - Construction:
Upon obtaining the necessary permits, our intention is to commence the construction phase. The ongoing collection of construction funds is progressing as planned, aligning with our commitment to initiate construction promptly once all prerequisites are fulfilled.
Building Permits:
At present, we are actively working on securing funds for our construction project. Concurrently, our team is dedicated to reviewing and addressing comments received from the city. Additionally, we are exploring an alternative approach to transform the plan into senior housing, with progress already underway. We have engaged consultants to determine the most suitable design for this purpose, and we anticipate receiving a permit progress update in the upcoming month. Consultant are working on Finalizing the best Design for Senior Housing.
Finance:
Progress has been made with our lenders, and the loan application form has been submitted. We have also successfully raised a short-term loan of $200,000.
Sales:
We are currently evaluating two strategic options for our project.
Option 1 - Sale:
The property has been temporarily taken off the market due to the holiday season. Our plan is to reintroduce the listing in the first week of January 2024, partnering with a different seasoned broker.
Option 2 - Construction:
Upon securing the necessary permits, our intention is to initiate the construction phase. The collection of construction funds is currently underway.
Building Permits:
At present, we are actively working on securing funds for our construction project. Concurrently, our team is dedicated to reviewing and addressing comments received from the city. Additionally, we are exploring an alternative approach to transform the plan into senior housing, with progress already underway. We have engaged consultants to determine the most suitable design for this purpose, and we anticipate receiving a permit progress update in the upcoming month. Consultant are working on Finalizing the best Design for Senior Housing.
Finance:
Progress has been made with our lenders, and the loan application form has been submitted. We have also successfully raised a short-term loan of $200,000.
Sales:
We are currently evaluating two strategic options for our project.
Option 1 - Sale:
The property has been temporarily taken off the market due to the holiday season. Our plan is to reintroduce the listing in the first week of January 2024, partnering with a different seasoned broker.
Option 2 - Construction:
Upon securing the necessary permits, our intention is to initiate the construction phase. The collection of construction funds is currently underway.
Building Permits:
Currently, we are in the midst of securing funds for construction. Simultaneously, our team is actively reviewing and responding to comments received from the city. In addition to these endeavors, we are exploring an alternative approach to transform the plan into senior housing. Progress on this initiative is already in motion, and we are presently involving consultants to determine the most fitting design for this purpose. The anticipation is to receive the permit progress update by the upcoming month.
Finance:
A certain progress with the lenders have begun. Application form for loan is submitted. Alongside we are rasing short term loan of $200K for 3 month period to fix our intrests payments.
Sales:
We are presented with two strategic options for our project:
Option 1 - Sale:
The property has been temporarily removed from the market due to the holiday season. Our plan is to reintroduce the listing in the first week of January 2024 with a different seasoned broker.
Option 2 - Construction:
Upon securing the permit, our intention is to commence the construction phase. The collection of construction funds is currently in progress.
Building Permits:
We are currently in the process of obtaining construction funds. Delays in construction and permit approval have arisen due to recent changes in building codes. Presently, we are collaboratively working with experts on documentation to navigate and address these challenges.
Final Parcel Map Recordation:
We are in anticipation of a crucial tax certificate from the county, which is essential for the signing of important documents related to the final parcel map recordation. This certificate is vital for advancing our project.
Finance:
We have obtained the valuation report and distributed it to various lenders. We are currently awaiting feedback from the lenders before moving forward.
Sales:
We are presented with two strategic avenues for our project:
Option 1 - Sale:
The property has been temporarily withdrawn from the market due to the holiday season. Our plan is to reintroduce the listing with a different experienced broker in the initial week of January 2024.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Building Permits:
We're in the midst of securing construction funds. Recent changes in building codes have caused delays in construction and permit approval. Currently, we're working on documentation in collaboration with experts to address these challenges.
Final Parcel Map Recordation:
We're waiting for a vital tax certificate from the county. It's crucial for signing essential documents related to the final parcel map recordation and moving our project forward.
Finance:
We've received the valuation report and have shared the same with the lender. Waiting for comments from the lender to proceed further.
Sales:
We are presented with two strategic avenues for our project:
Option 1 - Sale:
The current market is experiencing a sluggish pace. Our project is officially listed on the MLS, and we are patiently awaiting responses. Concurrently, we are engaging in discussions with brokers to comprehend strategic insights and understand the perspective of potential buyers. We are diligently preparing all necessary documents to facilitate the sale of the project, complete with the required permits.
Option 2 - Construction:
Upon obtaining the permit, our intention is to commence construction. The process of collecting construction funds is currently in progress.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Building Permits:
We are presently in a crucial stage of obtaining the essential permits for our construction project post the changes in building codes. We have meticulously gathered all the necessary documentation and are collaborating closely with experts to ensure full compliance with regulatory requirements.
Final Parcel Map Recordation:
Furthermore, we are currently awaiting a tax certificate from the county. This certificate is indispensable for us to proceed with the signing of vital documents associated with the final parcel map recordation.
Finance:
We're in talks with four lenders to secure construction funds. Evaluating loan offers, final agreements are on the horizon. Simultaneously, an appraiser has assessed our land and project, with the valuation report received last weekend. The symphony of finance and appraisal heralds the impending project realization.
Sales:
We are presented with two strategic avenues for our project:
Option 1 - Sale:
The project is now officially listed on the MLS, and responses from the market are underway. We are in the process of patiently awaiting favorable terms for the outright sale of the land.
Option 2 - Construction:
A well-defined plan is in place for the construction phase of the project. Once funding is secured, our objective is to promptly commence the construction process.
We're looking for $200,000 in investments to help with our construction project, and we've already secured 45% of the funds we need. The good news is that we've increased the profit you can make from 15% to 20%, making this investment opportunity even better.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Building Permits:
We are currently in a critical phase of securing the necessary permits for our construction project. We have diligently collected all the required documentation and are working closely with experts to ensure that we meet all the regulatory requirements.
Final Parcel Map Recordation:
In addition, we are waiting for a tax certificate from the county, which is essential for us to proceed with signing crucial documents related to the final parcel map recordation.
Finance:
On the financial front, we are in discussions with four different lenders to secure the funds required for our construction project. We are carefully evaluating their loan offers and are preparing to finalize the agreements. We have also engaged an appraiser to assess the value of both the land and the proposed construction project. The site visit has already been completed, and we anticipate receiving the valuation report by early next week.
Sales:
We have two ways to go about our project:
Option 1 - Sell:
We have recently listed the project on the MLS and have begun receiving responses from the market. We are currently awaiting favorable terms to sell the property outright.
Option 2 - Building:
We have a clear plan for moving ahead with the construction part of the project. Our aim is to start building once the funding is in place.
We're looking for $200,000 in investments to help with our construction project, and we've already got 45% of the funds we need. The good news is that we've increased the profit you can make from 15% to 20%, making this investment opportunity even better.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Building Permits:
We're in a crucial phase of getting permits to build. We've gathered all the needed paperwork and are checking it thoroughly. We're also working with experts to make sure we meet all the requirements.
Final Parcel Map Recordation:
We're waiting for a tax certificate from the county to move forward with signing some important documents.
Finance:
We're talking to four different lenders to get funds for our construction project. We're looking at their loan offers and getting ready to close the deals.We're looking for $200,000 in investments to help with our construction project, and we've already got 45% of the funds we need. The good news is that we've increased the profit you can make from 15% to 20%, making this investment opportunity even better.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Building Permits:
Our pursuit of building permits has reached a pivotal phase. We've methodically compiled all the required documentation and, in close collaboration with our trusted consultants, are engaged in a comprehensive internal review process, sparing no effort to ensure that we've thoroughly addressed every comment and detail.
Final Parcel Map Recordation:
The title company is actively partnering with the county to obtain the crucial tax clearance certificate. Upon obtaining this certificate, we can proceed with the signing of the mylars for submission.
Finance:
We are presently deeply involved in productive negotiations with four distinct lenders, working tirelessly to secure the necessary funding for our construction project. We are carefully assessing the termsheets we've received and preparing for a swift and efficient closure of our financing arrangements.
In parallel, we're in the midst of raising $3.5 million from investors to bridge our construction loan. Our objective is to ensure that all the necessary funding is in place precisely when we receive the green light for our building permits.
We are also open for Preferred Equity round of $200k to bolster our construction financing on this project, with a 24-month term. Remarkably, we've already secured 45% of the investment for this special offering. Notably, we've enhanced our return percentage from 15% in Phase 1 to an enticing 20% in Phase 2, making this opportunity even more attractive to potential investors.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
Our journey to secure building permits has entered a critical phase. We've painstakingly assembled all our documentation, and now, in tandem with our trusted consultants, we're embroiled in an internal review process, leaving no stone unturned to ensure that every comment and detail has been meticulously addressed.
The title company is in active collaboration with the county to obtain that all-important tax clearance certificate. Once we grasp that certificate in our hands, we can move forward with the signing of the mylars for submission.
We are currently immersed in fruitful discussions with four distinct lenders, working tirelessly to secure the essential funds for our construction project. We're diligently comparing the received termsheets and are gearing up for a swift closing on our financing arrangements.
In parallel, we're in the midst of raising $3.5 million from investors to bridge our construction loan. Our objective is to ensure that all the necessary funding is in place precisely when we receive the green light for our building permits.
We are also open for Preferred Equity round of $300k to bolster our construction financing on this project, with a 24-month term. Remarkably, we've already secured 45% of the investment for this special offering. Notably, we've enhanced our return percentage from 15% in Phase 1 to an enticing 20% in Phase 2, making this opportunity even more attractive to potential investors.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
1. Building Permits
Our preparation for securing building permits has reached a crucial stage. We've completed the meticulous compilation of our documentation, and now, alongside our consultants, we're engaged in an internal review process to ensure that every comment and detail has been thoroughly addressed.
2. Final Parcel Map Recordation
The title company is actively collaborating with the county to obtain the essential tax clearance certificate. Once this certificate is in our hands, we'll be ready to proceed with signing the mylars for submission and the ultimate recordation of the final parcel map.
3. Finance
We're in active discussions with four distinct lenders, diligently working towards securing the necessary funds for our construction project. In this week we received one more term sheet from the lender and now we have two different term sheets for construction financing. We're comparing both the term sheets and will try to close on financing soon.
Additionally we're in the process of raising $3.5 million from investors to bridge our construction loan. Our aim is to ensure that all the required funding is in place precisely when we receive the green light for our building permits.
We are raising a Preferred Equity round of 500k for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment. This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
1. Building Permits
Our preparation for securing building permits has reached a crucial stage. We've completed the meticulous compilation of our documentation, and now, alongside our consultants, we're engaged in an internal review process to ensure that every comment and detail has been thoroughly addressed.
2. Final Parcel Map Recordation
The title company is actively collaborating with the county to obtain the essential tax clearance certificate. Once this certificate is in our hands, we'll be ready to proceed with signing the mylars for submission and the ultimate recordation of the final parcel map.
3. Finance
We're in active discussions with four distinct lenders, diligently working towards securing the necessary funds for our construction project. In this week we received one more term sheet from the lender and now we have two different term sheets for construction financing. We're comparing both the term sheets and will try to close on financing soon.
Additionally we're in the process of raising $3.5 million from investors to bridge our construction loan. Our aim is to ensure that all the required funding is in place precisely when we receive the green light for our building permits.
We are raising a Preferred Equity round of 500k for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment. This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
1. Building Permits: We have received shoring plans and accordingly working to update our foundation plans. Looking forward to compiling the sets and sending it to the city reviewers to get their blessings prior to final submission to the city.
2. Final parcel map recordation: We have received the security bond and working with the title company to get it submitted to the county next week and subsequently recording the mile hours. We expect final map to be fully recorded in 1st week of September.
3. Finance: We are engaging with lenders to investigate potential financing choices for this location. We have received the term sheet from one of the lenders. Our objective is to obtain the required funds in the upcoming 6 to 8 weeks, aligning with the arrival of the building permits. We are in conversation with wellknown brokers to raise around $6M of funds in common equity/ other source of fund to meet the construction loan funding.
Also we are raising a Preferred Equity round of 500k for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment. This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}. Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
1. Building Permits: As a milestone, the AMMR (Alternative Means and Methods Request) was approved by the SCC Fire Department. We are actively working with Shoring consultant to design the Shoring Plans and making final changes to basement design to value engineer. We are on track for resubmission of the set in next 1-2 weeks.
2. Final parcel map recordation: In order to address the issue with the insurance company and secure the surety tax bond, a payment of approximately $18,000 will be necessary. After acquiring the bond, it will be formally documented with the County.
3. Finance: We have received a term sheet from a single lender, and we are concurrently engaging with additional lenders to investigate potential financing choices for this location. Our objective is to obtain the required funds in the upcoming 6 to 8 weeks, aligning with the arrival of the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}
1. Building Permits: The AMMR (Alternative Means and Methods Request) that was submitted to the fire department is anticipated to be approved next week. Consequently, we have made updates to our building permit plans accordingly. Currently, we are collaborating with a shoring and foundation consultant to perform value engineering for the basement. Our plan is to complete the compilation and resubmission of the set by mid- August.
2. Final parcel map recordation: To resolve the blockage with the insurance company and obtain the surety tax bond, an amount of around $18,000 needs to be paid. Once we have obtained the bond, it will be officially recorded with the County.
3. Finance: One lender has provided us with a term sheet, and we are also in the process of working with other lenders to explore potential funding options for this site. Our goal is to secure the necessary funds within the next 6-8 weeks, coinciding with the receipt of the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}
1. Building Permits: The AMMR submitted to the fire department is expected to be approved next week. Accordingly, we have also updated our building permit plans. We are currently working with shoring and foundation consultant to value engineer the basement. We expect to compile and resubmit the set by end of this month.
2. Final parcel map recordation: We need to pay approximately $18k to unblock the insurance company and receive the surety tax bond. Once received it will be recorded with the County.
3. Finance: We have received term sheet from one of the lender and are working with other lenders as well to see if we can fund this site in the next 6-8 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We've received some comments for fire from the city and we are working on resolving those comments and other minor comments also. We have hired a fire consultant for this. In order to satisfy value engineering needs we are also working with car lift manufacturers to see if we can eliminated one level of basement parking and replace that with parking lifts.
2. Final parcel map recordation: A tax surety bond is now being reviewed and should be received the following week. The County updates records throughout a two-week period, after which the map should be recorded.
3. Finance: We are working with lenders to see if we can fund this site in the next 8-10 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We've received some comments for fire from the city and we are working on resolving those comments and other minor comments also. We have hired a fire consultant for this. In order to satisfy value engineering needs we are also working with car lift manufacturers to see if we can eliminated one level of basement parking and replace that with parking lifts.
2. Final parcel map recordation: A tax surety bond is now being reviewed and should be received the following week. The County updates records throughout a two-week period, after which the map should be recorded.
3. Finance: We are working with lenders to see if we can fund this site in the next 8-10 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: In order to satisfy value engineering needs and other consultants' feedback from the City, we are working with car lift manufacturers, shoring engineers, and fire consultants.
2. Final parcel map recordation: A tax surety bond is now being reviewed and should be received the following week. The County updates records throughout a two-week period, after which the map should be recorded.
3. Finance: We are working with lenders to see if we can fund this site in the next 8-10 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: In order to satisfy value engineering needs and other consultants' feedback from the City, we are working with car lift manufacturers, shoring engineers, and fire consultants.
2. Final parcel map recordation: A tax surety bond is now being reviewed and should be received the following week. The County updates records throughout a two-week period, after which the map should be recorded.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We are working with Car lift manufacturers, Shoring engineers & Fire Consultant to address value engineering requirements & other consultants on the City comments.
2. Final parcel map recordation: Tax Surety bond is currently in underwriting and expected to receive next week. The County takes 2 week to update records & then we can expect to record the Map.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: The structural and architectural teams keep improving the overall design. Also, we are checking the feasibility of a lower Basement to reduce the Construction cost by over $1M.
2. Final parcel map recordation: A bond issuance is anticipated in order to give the County the $125K in advance taxes. We will start working on getting the map documented as soon as the bond is obtained.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits..
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: The Architectural team & Structural team continue to optimize the overall design. Also checking for the feasibility of a lower Basement to reduce the Construction cost by over $1M.
2. Final parcel map recordation: Bond issuance is awaited to pay the advance taxes worth $ 125K to the County. Once the bond is secured, we will start working on getting the map recorded.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits..
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: The Architectural team & Structural team continue to optimize the overall design. Also checking for the feasibility of a lower Basement to reduce the Construction cost by over $1M.
2. Final parcel map recordation: Bond issuance is awaited to pay the advance taxes worth $ 125K to the County. Once the bond is secured, we will start working on getting the map recorded.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits..
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: As we are working with lenders, we are simultaneously working on Value engineering for this Project to reduce overall construction costs. The Structural, MEP & Architectural team are meticulously working to optimize the designs before we make the final submission to the city for Building permits.
2. Final parcel map recordation: Our Finance team continues to work with bonding companies to secure a bond We are securing a bond to pay the advance taxes to the County. Once the bond is secured, we will start working on getting the map recorded.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in the next 4-8 weeks as we receive the building permits..
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We are working with the Fire engineer and other consultants to have the plans prepared and submitted by the end of this month.
2. Final parcel map recordation: We are securing a bond to pay the advance taxes to the County and hope to get the Map recorded in 2-3 weeks after the Bond is submitted to the County.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 5-7 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term out of which we have already booked 20% of the investment . This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We received a detailed response from County's fire Department over our set that was submitted for the review. We are engaging Fire Engineer to address and respond to those comments. Due to City's negligence in the planning stage, the County's fire department comments were not incorporated and hence has led to delay in the building phase.
2. Final parcel map recordation: We are securing a bond to pay the advance taxes to the County and hope to get the Map recorded in 2-3 weeks after the Bond is submitted to the County.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 5-7 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: The team is working on addressing the minor coordination issues while we had a successful meeting with the County's Fire department to review our plans for compliance. We expect the plans now to be ready to be submitted by the first week of April.
2. Final parcel map recordation: The County has asked for payment of advanced taxes worth $ 126,000 for which we are working with our Finance team and hope to record the map post payment by mid of April.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: This week all the concened consultants jointly reviewed the compiled set. Also, we shall be ready for the submission in next 2 weeks.
2. Final parcel map recordation: we have collected from the city the signed aggreement as well as the mylars. The Title officer shall get the final map recorded by next week.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: As last updated, our teams are meticulously working to get the resubmittal on time. Also checking with city staff to ensure, they are fully satisfied and there are no more comments.
2. Final parcel map recordation: We have the Approved map from the City Council. We are still awaiting signatures on the Subdivision agreement by City Attorney and City Manager. Once received, we shall print the mylars and work with the Title officer to get it recorded at the county.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: As last updated, our teams are meticulously working to get the resubmittal on time. Also checking with city staff to ensure, they are fully satisfied and there are no more comments.
2. Final parcel map recordation: We have the Approved map from the City Council. We are still awaiting signatures on the Subdivision agreement by City Attorney and City Manager. Once received, we shall print the mylars and work with the Title officer to get it recorded at the county.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We are working on the resolving the comments with all the Consultants & the fire Department and are on schedule to resubmit by the end of the month.
2. Final parcel map recordation: We have the Approved map from the City Council. The Subdivision agreement is to be signed by City Attorney and City Manager. We can finalize the Map recording after this. We also got a chance to talk with the manager of Public Works dept to expedite the process.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We had a meeting this week with the County Fire Department & all consultants to address comments and are on track to resubmit by end of this month.
2. Final parcel map recordation: The Map is approved by the City Council. The notarized Map agreement is with the City for review & further signing by the director. Once received, we can print & record the Mylars in next 2 weeks.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We have received partial comments from the City for Architectural & Fire. Public works Department is still reviewing the plans. We expect to receive full comments & start working on resolving them by end of next week.
2. Final parcel map recordation: The Map is approved by the City Council. The Map agreement is also signed & need to be recorded with the County in 1-2 next week.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}
1. Building Permits: We have received partial comments from the City for Architectural & Fire. Public works Department is still reviewing the plans. We expect to receive full comments & start working on resolving them by end of next week.
2. Final parcel map recordation: The Map is approved by the City Council. The Map agreement is also signed & need to be recorded with the County in 1-2 next week.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 2M for construction financing on this project with a 24 months term. This is a special offering as we have bumped up our return percentage from 15% { Phase 1} to 20% { Phase 2}.
1. Building Permits: As last updated, we await the feedback for 2nd Building submission this month.
2. Final parcel map recordation: The Map is approved by the City Council. The Map agreement is also signed & need to be recorded with the County next week.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: As last updated, we await the feedback for 2nd Building submission early next year.
2. Final parcel map recordation: The Map is approved by the City Council. The recording of map will take place early in January as the County is closed for holidays.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: As updated last week, we await the feedback expected early next year. The fire department has disapproved our request for varience & we are working with our architect to propose an alternative solution to ariel access issue.
2. Final parcel map: As a Milestone, the Map is approved by the City Council this Tuesday & we are recording the Map, improvement agreement this month.
Also, $1.7M of dues to be paid to the PWD prior to issuance of Building permits.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: the Building permit set ws submitted last week & intake completed this week, the feedback is expected early next year. We continue to work with Fire Department to get our request for varience approved.
2. Final parcel map: We are now on agenda for the Dec 13th City council meeting. We are working to get the Affordable Housing Agreement & CC&Rs recorded prior to it. Also, $1.7M of dues to be paid to the PWD prior to issuance of Building permits.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: As the last blocker to submission, we are waiting now on the updaed Joint trench Plans and confirmation from Fire Department on the Varience for aerial access. The submission & plan approval may require 5-7 working weeks.
2. Final parcel map: We have received city fee dues of $1.7M to be cleared prior to being scheduled on the City council agenda. The date proposed by staff is Dec 13th. We are working with our lenders to raise the funds. Post City council approval, the Mylars will be recorded with the county.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: We are ready to resubmit the set as all items have been compiled this week. The submission & plan approval may require 6-8 working weeks.
2. Final parcel map: We have received city fee dues of $1.7M to be cleared prior to being scheduled on the City council agenda at the end of this month. We are working with our lenders to raise the funds. Post City council approval, the Mylars will be recorded with the county.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return
1. Building Permits: All sets are updated per the comments received & await compilation of the same by early next week & review the same internally to ensure there are no repeat comments. We look forward to re-submit in 1 week.
2. Final parcel map: We await final fee details from the City & date for City council to have the Map approved. Post which the Mylars will be recorded with the county.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: Further from last week, the PWD has accepted our solutions & we are now working to compile the Civil Engineering set while still working with Fire Department to get the variation approved. We have completed all other iteams & look forward to re-submit in 1-2 weeks.
2. Final parcel map: The Mylars have been signed & sent to the City for final review, post which it will be recorded.
3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for both of them. We are working on closing these loans in next 4-8 weeks as we recieve the building permits.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: We have completed the compilation of the set and are currently conducting an internal review with our consultants to ensure that all comments have been adequately addressed. We are eagerly anticipating the submission of the set to the city for the final review and approval.
2. Final parcel map recordation: The title company is in the process of collaborating with the county to obtain the tax clearance certificate. Once we have obtained this certificate, we will proceed with signing the mylars for submission and the final recordation.
3. Finance: We're currently talking to four different lenders to secure money for our construction project. In a few weeks, we expect to receive offers from these lenders. At the same time, we're also raising $3.5 million from investors to help support the construction loan. Our goal is to get all the funding we need just in time for when we get the green light with our building permits.
We are raising a Preferred Equity round of 500k for construction financing on this project with a 24 months term out of which we have already booked 30% of the investment. This is a special offering as we have bumped up our return percentage from 15% {Phase 1} to 20% {Phase 2}.
We are also raising Common Equity round of $3.5M for construction financing on this project with a 24 months’ term. In this investment we are offering 40% profit share which translates to 1.47x cash on cash return at the end of project completion.
Referral bonus of $5k on every successful transaction, tag along your friends and family members and take advantage of this opportunity.
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1. Building Permits: We have addressed majority of the comments and also had a meeting with City Civil engineers & Fire Dept. to review the plans this week. We expect to resolve the issues by early next week & resubmit for final approval by mid of this month. 2. Final parcel map: The updated Final T-Map is fully approved & mylars is already printed. It is now out for signatures & awaiting details of balance development fees to be paid. We then anticipate to be scheduled for City council agenda & get the map recorded early next month. Attached is a screengrab of the approval email from the city for the same. 3. Finance: We are working with 2 lenders closely on construction financing and are almost in the final underwriting stages for one of them. We aim to close the construction loan in the next 30-45 days. Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return. |
1. Building Permits: We have received full set of comments from the City early this month & our team is working on addressing them. We are also value engineering on the structural side to reduce cost of construction. We expect to resubmit early next month.
2. Final parcel map: The updated Final T-Map is with the City for approval. Due to only one engineer available at the City, the process is slowed.
3. Finance: We are working with 2 lenders closely on construction financing and are working on providing all documents required to get the loan to final underwriting. We aim to close the construction loan in the next 60-80 days.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: The re-submission intake was successful and we expect feedback / approval by mid of August.
2. Final parcel map: The Final T-Map is with teh title company for review, post which we shall print the mylars & get the Map recorded in name of ADL 15 LLC by early next week.
3. Finance: We are working with 2 lenders closely on construction financing and are working on providing all documents required to get the loan to final underwriting. We aim to close the construction loan in the next 60-80 days.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: The re-submission intake was successful and we expect feedback / approval by mid of August.
2. Final parcel map: The Civil Engineer is working on updating the Final Map title Block and resubmitting to the City for stamping. Post which we shall print the mylars & get the Map recorded in name of ADL 15 LLC.
3. Finance: After closing the acquisition financing on the project, we are working with 2 new sources on the construction financing and anticiapte to close this in next 6-8 weeks while we recieve the building permits and final Map .
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: The re-submission intake was successful and we expect feedback / approval by mid of August.
2. Final parcel map: The Civil Engineer is working on updating the Final Map title Block and resubmitting to the City for stamping. Post which we shall print the mylars & get the Map recorded in name of ADL 15 LLC.
3. Finance: After closing the acquisition financing on the project, we are working with 2 new sources on the construction financing and anticiapte to close this in next 6-8 weeks while we recieve the building permits and final Map .
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: As planned, we have re-submitted the set to the City for review and expect feedback / approval by mid of next month.
We have developed beautiful realistic interior renders for the project this week.
2. Final parcel map: As a milestone, we have closed the Escrow and the Title is in the name of ADL 15 LLC. We are working on now updating the title block in the Approved Final Map and get the same recorded with the County. The advance Tax bond is also paid.
3. Finance: We have successfully completed the Acqusition financing on the project last week, leading to close of escrow on the land. We will now start working on the construction financing to make sure we can secure it within the next couple of months whilst we recieve the building permits approval.
Also we are raising a Preferred Equity round of 1.5M for construction financing on this project with a 24 months term and 17.5% annualized return.
1. Building Permits: As planned, we have re-submitted the set to the City for review and expect feedback / approval by mid of next month.
We have developed beautiful realistic interior renders for the project this week.
2. Final parcel map: As a milestone, we have closed the Escrow and the Title is in the name of ADL 15 LLC. We are working on now updating the title block in the Approved Final Map and get the same recorded with the County. The advance Tax bond is also paid.
3. Finance: We have successfully completed the Acqusition financing on the project last week, leading to close of escrow on the land. We will now start working on the construction financing to make sure we can secure it within the next couple of months whilst we recieve the building permits approval.
1. Building Permits: We have completed addressing majority of the comments and currently working on the last items- Structural, Landscape & Architecture Set before we compile the set by next week and re-submit to the City. Delay in responses to several queries from the City blocked us on the Civil track. We have developed fresh beautiful realistic renders of the project.
We have now finalised the HOA Budget , but submission to DRE is on hold till the CLose of Escrow.
2. Final parcel map: As a milestone, the Final Map has been Approved by the City. We are now working to pay the Advanced taxes to County and print the Mylars. We expect the Maps to be recorded by mid of next month.
3. Finance: We are looking for Construction finnacing lenders for the project and currently are in touch with 2 lenders on the same. Seeing the current market fluctuations, we anticiapte to close the loan by next 6-8 weeks.
1. Building Permits: The team is working meticulously on the comments received from the City. We are targetting to get all responses along with the set ready to be resubmitted by this month end. The major comilation includes- Lanscape, Title 24, Stuctural, Architectural and MEP. We have also developed fresh 3D realistic renders for the project & working on finalising the HOA Budget for submitting to DRE.
2. Final parcel map: We expect response from the city by next week on final map. Since the last comments from City were pretty minor, we also expect approval on final parcel map and look forward to recording it in 1-2 month time.
3. Finance: We are looking for Construction finnacing lenders for the project and currently are in touch with 2 lenders on teh same.
1. Building Permits: We have received the Intake Fee according to the new Fee structure of the City. The building permit set review is under progress as per the City and we hope to pay the Intake Fee by early next month.
2. Final parcel map: The parcel map has been successfully submitted to the City and is under review. We have received the updated Fees Schedule and made the payment for the Final parcel map review.
3. Finance: We are looking forward to getting the escrow on land closed by the next 3-4 Weeks. We are already working with 2 lenders on the same and an appraisal has already been ordered and is expected to be delivered by early next month.
1. Building Permits: As we had already submitted the building permits set 2 weeks ago, we look forward in getting the intake fee estimates from the city which is delayed due to the city's new fee structure and hence they will provide us the fee as soon as they calculate it according to the new schedules. Meanwhile, the sets are expected to be reviewed by the city and feedback on the same is expected this month.
2. Final parcel map: The parcel map has been successfully submitted to the City and is under review. We are expecting fee estimates as per the new schedule and also the feedback on the submittal by next 2-3 weeks.
3. Finance: We are looking forward to getting the escrow on land closed by March'22. We are already working with 2 lenders on the same.
4. DRE: We are working with the Title company & HOA consultant to file for Pink report with DRE early next week.
We have the set ready & looking forward to submitting the building permit set to the city this week and the intake of the same is expected to next week. Feedback is then expected from City by mid of March. The final parcel map and condo map are to be submitted to Public Works Dept. by the mid of this month.
We are looking forward to getting the escrow on land closed by March'22.
We have completed working on the Building set & reviewing / compiling the same for submission of the full building set to the City on Monday as planned.
We are left with last $100k spot on this exciting project, Invest Now! The Electrical meter removal was also completed by PG&E this week and the Final Joint Trench Design has been submitted to PG&E for approval. We are also working with our Title Company for DRE filing.
As per the review of our plans by the PE & City planners, we were advised to change the location of transformer from pad mounted to underground which is done by our Achitect this week. We look forward to updating other Landscape & Civil sets accordingly and compiling full Building Permit set next week.
Also, we successfully submitted the Project PG&E application and working with our Surveyor to finalize the Parcel & Condo Map for submission to City this month.
With reference to discussions with all our consultants, we are on track to compile the set by end of this month and submit the same to the City early next month. The architectural, MEP, structural plans are currently under review with the P.E.
We are also working with the title company on the DRE process and expect to receive the pink report in 2-3 months so that we can begin pre-sales on this project. Also we had the utilities disconnected, meters removed by PG&E this week.
1. Building Permits: We made the plan check fee payment to the City and also received the building permit comments on Friday. The team is working on the same and the set should be ready for re-submission in the next month.
2. Final parcel map: We have re submiited the Final Map revesion post the comments from the city this week and are expecting to hear back from them in next 4 weeks.
3. Finance: Financing is secured and we look forward to getting the loan documents for signing next week.
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As planned, the Architectural, Landscape, irrigation, MEP, Structural sets have been finalised internally and currently working with Civil engineer on the Grading & drainage plans. We can now begin with Title 24 calculations which will take 2-3 weeks to complete. We have also registered our Tract Map with County (TRACT-10581) this week. Last few Spots!! Grab this opportunity to invest in Low Risk, high Returns Project- Click Here for more details & to Invest now! |
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Almost 95% filled, just 200k Remaining!! Grab this opportunity to invest in Low Risk, high Returns Project- Click Here for more details & to Invest now! As informed last week, we have cosed on number of Critical balance coordination items & reviewing the Set internally. Once Architectural, MEP & Structural Sets are finalized early next week, Title 24 calculations will take more 2 weeks to complete the Building Permit Set for submission this month. |
Final opportunity to invest in this project. Click Here for more details & to Invest now!
As informed last week, we continue to coordinate for number of items between architects, civil engineer, MEP Engineers & Landscaper in order to compile the final set for submission early next month.
Don't miss on the opportunity to invest in this Low Risk, High return project. Click Here to Invest!
As informed last week, we continue to coordinate for number of items between architects, civil engineer, MEP Engineers & Landscaper in order to compile the final set for submission early next month.
The Preferred Equity raise with a 15% annualized return on investment is filling up fast with last few spots remaining! Click here to INVEST NOW!
This week we have been coordinated with all consultants Civil, Joint Trench, MEP, Architecture & Landscape to compile the set. Further, we look forward to receiving Final Map & Improvement Plan package from Civil Engineer for submission to the City by next week.
We have received the CC&Rs, Bylaws, Purchase agreements & articles from our Attorney & continue to work with consultants on DRE Budget.
The Preferred Equity raise with a 15% annualized return on investment is filling up fast with last few spots remaining! Click here to INVEST NOW!
This week we started engineering for Mechanical, Electrical & Plumbing for this project and coordinating with all our consultants - Civil, Title 24, Landscape etc. for compiling the Building permit set requirements. We look forward to submission next month end. We are also on track to submit the Final Map package by mid of November.
We have also started working with our Attorney on Draft CC&Rs, HOA and with the DRE Consultant on Budget & filing for Pink Report.
The Preferred Equity raise with a 15% annualized return on investment is filling up fast with last few spots remaining! Click here to INVEST NOW!
The last tenants have vacated the property and we now have the property in our possession. We are working with our lenders to put in financing to close the escrow on the land purchase this month. We have also initiated process for utility disconnections from the property. We are on track to prepare the Building Permit submission set and working closely with all consultants.
We are pleased to announce about the opportunity to invest in a high return and low risk project this week! This new Preferred Equity series of investment that will fetch a preferred return of 15% annualized return on investment. Click here to reserve your spot now as it is getting filled up fast. As informed last week, the preparation of Architectural, Structural, MEP Model, Civil Plans, Title24, Landscape & DRE Budget are in progress and we are coordinating closely with all consultants.
View the Project Approved / Entitled Plans: Click here
An awesome opportunity to invest in a high return and low risk project. Grab the opportunity soon before it fills out. We bring in a new Preferred Equity series of investment that will fetch a preferred return of 15% annualized return on investment.Click here to reseve your spot.
With this information it brings an awesome opportunity for you to invest in an asset class where the risk associated is drastically low but the return on investment is high as we need to close out this raise pretty soon. As we are committed to growing our investor wealth and building good relationships hence we have increased our return on investment for this specific class of investment preferred shares.This preferred equity raise is for the construction of our 28 unit condos project centrally located at a very prime location in Los Altos.. The project is fully entitled by the city and we are working with the building department in order to pull our building permits and eventually begin construction. These twenty eight five-story condos exude modern luxury with larger rooftop, gym and installed solar panels along with EV chargers! The project is an electric one with solar integration, and in addition to this there is a two level parking facility enabling proper Garage space for each of the condos.
We have started working with Consultants and Planners from the city to submit the building package to the city and get this 50,000 sqft project ready to be constructed in the coming 9-10 months!
We are excited to launch our new five-story 28 unit multi-family Development with two levels of underground parking on the prime location of El Camino Real in the heart of Los Altos! The 47,587 sq.ft. project includes 6 affordable units with open terrace and is completely entitled and modern amenities. We look forward to submitting for the Building Permits to the city soon.Hence we bring in an opportunity to invest in this early stages of the project.This is a 500k raise which is already 200k filled , hence leaving a very few spots left . Visit the offering page here in order to reserve the final spot by clicking the "Invest Now" button, or immediately call Kirti at (650) 567-4701!
The current status on the project is
As an update, this Preferred Equity raise is specifically investing into our 4898 El Camino project in Los Altos!We are currently raising 500k initially on this project to put in the deposit for acquisition of the land, which we have already raised for along with the remaining 300k for the soft costs . As a Preferred Equity investor, you will receive 15% annualized preferred return until the project is completed.
This opportunity is about to fill out fast, so be sure to Click here in order to "Invest Now" and reserve your space in the offering. Please also feel free to reach out to us directly with any questions you have by responding to this email or giving us a call at (650) 567-4701.
Looking forward to connecting with you soon!
We are excited to launch our new five-story 28 unit multi-family Development with two levels of underground parking on the prime location of El Camino Real in the heart of Los Altos! The 47,587 sq.ft. project includes 6 affordable units with open terrace and is completely entitled with modern amenities. We look forward to submitting for the Building Permits to the city soon.Hence we bring in an opportunity to invest in this early stages of the project.This is a 500k raise which is already 200k filled , hence leaving a very few spots left . Visit the offering page here in order to reserve the final spot by clicking the "Invest Now" button, or immediately call Kirti at (650) 567-4701!
The current status on the project is
As an update, this Preferred Equity raise is specifically investing into our 4898 El Camino project in Los Altos!We are currently raising 500k initially on this project to put in the deposit for acquisition of the land, which we have already raised for, along with the remaining 300k for the soft costs . As a Preferred Equity investor, you will receive an 10% annualized preferred return until we break ground, and then a 12% annualized preferred return until the project is completed. In addition to the preferred returns, there is a 5% profit share with the entire preferred equity investor pool! Based on our projections for the project, we are anticipating a 15.5% annualized return for the Preferred Investors, which includes the profit share.
This opportunity is about to filled out fast, so be sure to Click here in order to "Invest Now" and reserve your space in the offering. Please also feel free to reach out to us directly with any questions you have by responding to this email or giving us a call at (650) 567-4701.
Looking forward to connecting with you soon!
As informed last week, we have now closed contracts on majority of the trades and on track to prepare for the Building Permit submission. The preparation of Architectural, Structural, MEP Model & Civil Plans are in progress. We currently estimate a 6-8 months timeline to begin construction on this project located in the heart of Los Altos City. We further look forward to opening investment opportunities in this property for 500k, out of which 200k is already filled.
View the Project Approved Plans: Click here
Having acquired the fully entitled new five-story 28 unit multi-family Project in the one of the most prominent locations of Los Altos, we are working to finalize consultants for all trades for further obtaining Building Permits & Final Map recordation. We are evaluating & negotiating on the bids received this week and already started working on the Architectural Set. We have successfully obtained Will-serve letters from all major Utility service providers & working with PGE for disconnections.
View the Project Approved Plans: Click here
We are excited to launch the new five-story 28 unit multi-family Development with two levels of underground parking on the prime location of El Camino Real in the heart of Los Altos! The 47,587 sq.ft. project includes 6 affordable units with open terrace and is completely entitled. We look forward to submit for the Building Permits.
To read more Click here
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