Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
06/10/2025
Property Type
Property City
Kaneohe
Property State
HI
Loan Term (months)
6
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$2,040,000
Loan-to-Value
65%
Property Neighborhood
Oahu
Location Type
Rural
Property Condition
Vacant Land
Occupancy at Closing
Vacant
Lot Square Footage
159,821
Lot Acreage
3.66
Borrower's Plan
Build and Hold
Exit Strategy
Refinance
Borrower Credit Rating
Excellent
Interest Rate
13.75%
Deal Summary
Myers Capital Hawaii—a residential and commercial mortgage banking company and direct private lender—partnered with its affiliate, Koa Mortgage Fund, to finance a $1,326,000 equity cash-out bridge loan secured by eight subdivided vacant land parcels in Kaneohe on the island of Oahu, HI. Koa Mortgage Fund, a pooled mortgage debt fund, funded the loan at a conservative 65% loan-to-value based on a $2,040,000 appraised property value. The Borrower, an experienced Hawaii developer, used the loan proceeds to pay off a maturing land note. The financing relieved balloon payment pressure, improved liquidity, and included an interest reserve to support cash flow while providing time to advance entitlement and development plans. The land size is approximately 159,821 square feet or 3.66 acres. The Borrower had excellent credit. They plan to refinance as an exit strategy. The interest rate was 13.75%. The loan term was set at 6 months. This bridge loan was funded in June 2025.
Funded By
Myers Capital
Private Lending for Hawaii Investment Property, Including Land
Dealmakers
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company based in downtown Honolulu. As a second generation family business owner, Reed is personally involved in over $1.5 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland.