Golf Course construction - Connecticut
$350,000 Second Mortgage Loan | Term: six months
The Fund has a second mortgage on a 377-acre, nearly completed, Tom Fazio-designed golf course in northwest Connecticut. The Fund is also secured by a first mortgage on an additional 13.5-acre parcel. Approximately 167 of 300 memberships have already been sold, and our affiliate, Winter & Company has obtained a commitment for a new $6 million first mortgage from a Connecticut bank. This bridge financing was provided to expedite the completion of course construction. Our first and second mortgages will be repaid either by the members of the club at their discretion, or when the new bank financing closes.
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