Key Deal Facts
The Borrower was advanced the money it needed to purchase this property on July 19, 2024 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular., The Borrower intends to use the loan proceeds to purchase the property. 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 property's After Repair Value, which is an indication of the current market value in as is condition. The Borrower will repay the Groundfloor loan by selling the property or refinancing it., The Borrower's 2023 revenue was derived from rental properties because the Borrower's primary focus in 2023 was buy and hold. The Number of Completed Projects reflects the number of rental units owned. The Gross Margin reflects the earnings after the expenses of the rental business, such as mortgage interest, property taxes, and maintenance, have been deducted from gross revenue., Please consult the
Offering Circular
for further discussion of general risk factors.
