Target: $14,000,000
Investors: 0
Raised: 0%
Days To Go: N/A
$50,000 (Class A) | |
Minimum
Raise: |
$14,000,000 |
Maximum
Raise: |
$31,715,000 |
Minimum
Share/Units/% |
$1,000 per Unit |
Equity: |
100% of Investing Membership Interest Class |
Estimated
Return: |
6% to 10% per annum |
Investment
Type: |
Private Real Estate Lending |
Securities
Type: |
LLC Units |
Company: |
Vii Capital CBM Fund LLC |
Regulation: |
Regulation D 506C |
Vii Capital CBM Fund, LLC is offering for sale up to 31,715 Units of Investing Membership Interest (the “Units”) at USD $1,000 per Unit, aggregating USD $31,715,000, unless expanded up to USD $50,000,000 in our Managing Member’s sole discretion.
Vii Capital CBM Fund LLC, a Delaware limited liability company (“we”, “our”, us”, or the “Fund”) is a private real estate investment company formed by our Managing Member, Vii Global CBM LLC. The Fund is a special purpose entity formed by our Managing Member to provide a secured credit facility, either directly or indirectly through one or more Affiliate entities, for one or more loans of up to USD $31,715,000 (the “Loan(s)”) to LM Constructores S.A.S., a Colombia simplified stock company and/or its Affiliates (the “Borrower(s)”), in connection with their current development of a new-construction multi-family housing development called “Brisa Marina” (the “Project”).
The
Project currently contemplates the construction of up to 920 residential apartment units, including green park-like
common areas, multi-functional sports courts, and recreational trails and playgrounds (the “Project”) to be constructed
on approximately 16.37 acres, more or less, of prime development property (the “Property”) on the outskirts of the
rapidly-growing municipality of Sincelejo in northern Colombia.
The Project is designed to fill the demand for
affordable housing in Sincelejo, where it has been determined by the Colombia national government that up to 41% of
the city’s estimated 300,000 inhabitants lack access to adequate housing. For location maps and details regarding the
Project and Property, please see the Exhibit section of the Memorandum.
The Fund expects to provide the Loan(s) to
our Borrower(s) either directly or through a controlled subsidiary entity legally authorized to facilitate commercial
and/or real estate loans in Colombia. We shall endeavor to ensure that our Loan(s) to our Borrower(s) are secured with
“first position” or equivalent liens against the Property, Project, and other available collateral including, but not limited
to, equipment, tangible and financial assets of our Borrower(s), personal guarantees our Borrower(s)’s principals or
Affiliates, etc.
While it is possible that we may also take a direct or indirect equity or profits interest position in connection with the Property and/or Project, we expect that our Investment(s) in the Property and Project will be structured as one or more Loan(s) secured by a recorded trust deed (or its equivalent) position in the underlying real estate as collateral which we expect will include the power to foreclose, take possession of, and/or sell in the event of default. Unless additional adequate collateral is provided by our Borrower(s), we do not expect that our Loan(s) will exceed a maximum loan-to-value (LTV) ratio of 65% in terms of valued real property or furniture, fixtures and equipment (FF&E).
The Fund’s interests in any FF&E will likely be secured through security agreements and associated public filings as may be warranted in Colombia under the circumstances. There can be no assurance these objectives will be achieved. (See “Objectives, Strategies, and Proposed Activities” and “Risk Factors”).
The primary uses of this
funding include:
•
Refinance of land $2.750,000
•
Development Costs $173,000
•
Hard Construction Costs $25,118,000
•
Operating Costs $2,074,000
•
Project Contingency Costs $500,000
• Closing Costs (RE) $100,000
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