Austin, Texas – RV Park

The strategic goal of the Borrower was to use the proceeds from the Prescient Capital loan to buy out a partner and complete the improvements for 60 new RV lots and other RV Park amenities. The Borrower is a 40-slip park in Lockhart, Texas, with in-place revenue and significant expansion capacity. The park is well-occupied but will benefit from the capital improvement dollars to expand the 60 new income-generating lots on site. The Borrower is competitive among the competitors surveyed. However, after the expansion, the park will see a marked increase in quality with a significant competitive advantage in higher rents and high occupancy. Prescient Capital provided a $1,956,000 loan secured by a 1st lien on the property in Lockhart, Texas (Austin, TX MSA) with an estimated value of $2,600,000. The quick-close ability of Prescient Capital provided a tactical advantage for the Borrowers in achieving their near-term and long-term strategic goals. To further secure the Prescient Capital loan, the Borrowers signed personal guarantees.

$1,956,000

75%