• Project Name TAMA Project
  • Location Herzylia

OVERVIEW :  Original building > 16 apartments on 4 floors.   Plan to add 2.5 new floors & 10 new apartments

ORIGINAL LOAN:  Advanced 3,500,000 ; May 2015  /  1,500,000 due Sept 2016 + 2,000,000 due Feb 2017

LOAN REPAYMENT:  1,500,000 was repaid on Sept 2016 as contracted (16 mths) /  The developer requested an extension of 5 months on the balance (2M).  Developer repaid 2,000,000 on July 2017

BONUS (interest) paid:  Lenders were paid full bonus on August 2017.  Average Bonus rate was 17.2% per year.  Lenders were paid a rate of 20% per year for the 5 month extension period.