ST. JOHNS LAND LOAN
Property: Partially Complete Condominium Development
Location: St John, USVI
Deal: First Mortgage Lender
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.