ST. JOHNS LAND LOAN

Property: Partially Complete Condominium Development

Location: St John, USVI

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Deal: First Mortgage Lender

Transaction Summary:

JDI provided an acquisition and pre-development loan secured by a first mortgage on a partially completed condominium development project on the U.S. Virgin Island of St. John. The Property was REO and the borrower purchased the Property from the lender at a fraction of the replacement cost.