BOLOUR has provided entitled land financing for a four-parcel site situated adjacent to the newly constructed Kaiser Permanente Hospital in Modesto, California. The $2.2 million loan will be secured by a 240,000-square-foot land site located within a master-planned medical office, retail and hospitality development across the street from Kaiser’s Modesto campus. The site is located within a rapidly growing submarket, featuring exceptional demographics, robust development activity and home values in excess of $1 million dollars. BOLOUR assessed these strengths and the value added through entitlements and achieved a loan equal to 95% of the borrower’s cost. It then provided an 18-month, first trust deed loan at 55% of the property value.
Collateral Release Provisions