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#2284872 - 05/23/23 04:58 PM HVCRE & Glamping
lkrsfan Offline
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Joined: Dec 2010
Posts: 5
Prospective borrower converting a campground they currently own into a glamping resort with new mini-houses and also construction of several outbuildings including a restaurant/bar. Borrowers will be operating property. Would this qualify as HVCRE?
Thanks in advance for any opinions on this

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Lending Compliance
#2284873 - 05/23/23 05:14 PM Re: HVCRE & Glamping lkrsfan
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
An HVCRE ADC loan includes a credit facility that: is secured by real property; primarily finances, has financed, or refinances acquisition, development, or construction of real property; has the purpose of providing financing to acquire, develop, or improve such real property into income-producing property; and is dependent on future income or sales proceeds from, or refinancing of, such real property for repayment.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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