Defaulted Multi Tenant Project with Hotel Development
in Corona Planned Community
30 Minutes to Orange County and Temecula

Property consists of 50 currently occupied Live Work Condos with lots built out to add another 43 units along with a pad ready for a new hotel located in the Dos Lagos planned community in Riverside Ca. It is conveniently located along the 15 freeway minutes from the 91 freeway in Corona.
This community offers everything from a shopping mall, golf course, hotels, high end restaurants and a movie theater along with a man made lake with a vibrant modern resort style living atmosphere.

Original 2nd Loan Amount $2,000,000
Default Rate 18%
Loan has matured
NOS Set for 4/29/2025
Back taxes due of over $1.5M
Current Monthly Income over $120,000
Current 1st loan at $12,400,000 and in default
Current Property Value at $35,000,000
Estimated Value at Completion $76,000,000