Los Pueblos in Taos, New Mexico
Profile
Eight custom residential units with views of Taos Mountain and the foothills. These homes will be walking distance from Taos Plaza and a short drive to Taos Ski Valley.
Transaction Date
April, 2005
Borrower
Toas Partners LLC.
Principal amount invested
$500,000
Instrument
Secured Bridge Loan
Term
12 months with repayment of $71,430 from the proceeds of each of the first seven units
Interest rate
10% per annum
Security
GDR will hold title to the property during development and will subordinate to a lending institution for the purposes of a construction loan.
Bonus
7.9% of gross sales for each unit
