- 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.