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LOAN SUMMARY | 450 W Beidler Rd, King of Prussia, PA 19406

BORROWER

215 Windsor Limited Liability Company
Osman Aydemir - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
5.5%
6 months
61.7%
$262,540
1
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$262,540
Repaid on 09/04/2024
Started on
Funded on
Repaid on
Matured on
12/01/2021
03/28/2022
09/04/2024
05/31/2022

FINANCIAL OVERVIEW

After Repair Value (ARV)
$1,100,000
Total Project Costs
$1,099,900
$100
GROUNDFLOOR
$656,340
$443,560
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$1,100,000
Purchase Date
08/05/2016
Loan To Value
61.7%
Loan To Total Project Cost
59.7%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
10
10
Quality of Valuation Report
4
4
Skin-in-the-Game
8
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$1,100,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

450 W BEIDLER RD, KING OF PRUSSIA, PA 19406
The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the Borrower's skin-in-the-game.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needs to refinance this loan on December 1, 2021 by Groundfloor Finance Inc. ("Groundfloor," "we," "us," or "our") or a wholly-owned subsidiary of Groundfloor. The Borrower has now been refinanced for this property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the Borrower's skin-in-the-game. As a result, there will be little to no "cushion" and the Borrower will repay the Groundfloor loan by selling the property or refinancing it.
  • This loan represents the first draw for the construction project and is secured by an individual note.
  • Each draw on this project is structured as an individual loan. We will fund each draw from our own capital or credit facilities as and when requested by the Borrower, provided conditions for each draw are met as described in our Offering Circular. Once a draw has been approved and funded, we will then sell the corresponding series of LROs on our platform, each of which will be due 6 months from the time such series of LRO is deemed issued, as described in our Offering Circular. Subsequent draws are expected to be requested every two months from the date we advanced the first draw, but may be requested sooner, or later, depending on the progress of construction.
  • There will be multiple loans on this project, each representing subsequent draws. The loans will range from $110,000 to $250,000. The Financial Overview box represents the aggregate amount of all loans to be secured by this property, giving a complete financial picture of the project.
  • The event of default on one Groundfloor note secured by this property will trigger default on all Groundfloor notes secured by this property. All LRO holders investing in LROs corresponding to notes secured by this property share the same priority in any recovery and recovered proceeds will be distributed on a pro-rata basis.
  • The Borrower has not completed or sold any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular