Per Securities and Exchange Commission documents relating to a loan Bravicci (borrower) took out in June.
The LLC took out a high interest, short term note for the property indicating to me their plan/desire to start construction sooner rather than later. They aren't just going to sit on this.The Loan proceeds will be used by the Borrower to fund the acquisition of an operating parking lot facility located in Kansas City, Missouri (the “Property”) in order to build a hotel on a nearby land parcel.
(LOAN) DATE: June 28, 2019
PRINCIPAL AMOUNT: $4,840,000.00
INITIAL INTEREST RATE: 11.00%
More Information on Bravicci LLC:“Due Date” means the earlier of Acceleration, or June 28, 2020;
Registered Agent: Desai, Dilip
Address: 8551 E Blue Pkwy Kansas City, MO 64133 (address of a Holiday Inn Express)
Date Formed: 6/3/2019