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Small Citibank Note Package – LV
Category: Notes
These are one retail center(new and in a good location) and 5 flex industrial. The loan on these total $20.5MM, the bank is asking for $10.3MM.
The best offer they have is at 8.5MM all cash 25 day DD and 5 day close. They are thinking about this offer, but probably needs to be a little higher.
Everything is available on request for members on this deal. If you have interest we must get 4 points from the buyer. There is a CA attached, which if you are going to submit an LOI, we will have you sign then.
Note: bank has not started foreclosure, borrower wants out of his personal guarantees and is very cooperative; safe to say he is willing to give a deed in lieu immediately. The bank will not finance it has to be all cash.
For Members, access to the excel spreadsheets with the property, income and note information. Citibank has not indicated pricing, so I have included actual 13% Cap pricing and actual 15% Cap pricing. I have also included the rent rolls – as of May 2010 and a brief flyer on each property. Let me know if you have an interest. Thank you
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- Gary Martin, Allied Investments
- Mr. Ronald Bayer - First
Financial Investing 
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Mr. David Byrns - President - REF4 Funds.
- Debra Tillman 
M. Cameron - Charlotte NC
