The Briar Rose Club in Georgia
Second parcel
Profile
Located outside of White Plains, Georgia and ten minutes from the Briar Rose Country Club & Estates, this 520 acre property has been identified by the Briar Rose team to be developed in conjunction with the Briar Rose club. This second parcel will offer single family lots with a purchaser having membership privileges to the main parcel country club and amenities.
Expected closing
July, 2005
Borrower
Country Estate & Club Communities, LLC.
Principal amount
$1,750,000
Instrument
Secured Bridge Loan
Term
12 months
Interest rate
12.7% per annum
Security
First ranking mortgage on parcel to be acquired
Bonus
5% participation fee in gross lot sales up to $25,000,000.
