Freedom Financial Funds, LLC made a $5,050,000 loan to finance the conversion of a defunct hotel into market-rate affordable apartments in Ellensburg, Washington. This is the third loan that originated within the first 18 months of starting our relationship with the Pacific Northwest-based client. Eric Shoemaker manages the relationship and structured this loan.
The loan term is 15 months with an LTC of 80% and an expected stabilized Debt Yield of 10.3%. The loan is fully guaranteed by the client, who is highly bankable and has an established track record of successful execution with projects of similar scope and scale. The client continues to borrow from Freedom because of our deep understanding of his business model, the certainty of execution, and the high level of service provided throughout the duration of the loan.
For more information contact Eric Shoemaker at 503.866.0181