14 of 16 homes sold and closed with buyers moving in Q2 2022.
Bank loan repaid first and preferred equity investors next from cash.
Loan most likely did not max out before repayments began in April 2020 - $10.9MM was the max amount.
2 homes were refinanced and sold ~6 months later, the market had dropped, and additional costs were incurred.
King County public records provide support for the estimated figures below.
Dayton Acquisition and Pre-Development Project: The Largest and Furthest Along in Storybuilt's Timeline
These Dayton estimates represent roughly a third of the estimated amounts spent on Pipeline/Land projects, LEARN MORE
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