Loan Request for Land loan in Wheeler Ridge, CA, 93203

Request #3718961 by Lender

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Date Posted

3/16/2025 11:20:45 PM

Property at

Wheeler Ridge, CA, 93203, USA Show Map

Borrower at

Property Type

Land

Property Value

$12,000,000

Amount of Existing Loans

$3,000,000

Loan Request

$3,000,000

LTV

25 %

Credit Rating

750-759

Net Worth

$4,000,000 - $10,000,000

Loan Purpose

Refinance all

Purpose

Investor Proposal: Loan for Kevin Assemi's Citrus Farm

Executive Summary Kevin Assemi, an experienced attorney and agricultural businessman, is seeking a $3 million loan to fund the operational needs of his 1,200-acre citrus farm in Maricopa, CA. Of the total acreage, 400 acres are currently in production, with fully operational wells and water infrastructure. The property is valued between $14 million and $18 million. The loan will be secured against the property, and the borrower intends to refinance within 6 to 12 months through an AG loan.

Borrower Profile
• Kevin Assemi is a licensed attorney and businessman with a strong background in agriculture.
• He has extensive experience managing agricultural operations and has worked within his family’s 75,000-acre AG holdings empire.
• This citrus farm is solely owned and operated by Kevin, separate from his family’s enterprises.
•
Property Overview
• Location: Maricopa, CA – Kern County.
• Total Acreage: 1,200 acres
• Active Production: 400 acres in full operation
• Water Supply: Fully functional wells and irrigation system and Water Allocation
• Property Valuation: Estimated between $14 Million and $18 Million.
• Crop Type: Citrus
•
Loan Terms & Structure
• Loan Amount: $3,000,000
• Loan-to-Value (LTV): ~17-21% based on property valuation
• Term: 6 to 12 month
Rate 10.99%
• Repayment Structure: Interest-only payments with a balloon payment upon refinance
• Security: First lien on the property
Use of Funds
• Farm operations and production enhancement
• Equipment maintenance and upgrades
• Labor and seasonal workforce management
• General operational expenses

Risk Mitigation
• Significant equity in the property ensures strong collateral.
• Established water infrastructure reduces operational risk.
• Kevin’s extensive agricultural and legal experience enhances operational stability.
• Clear exit strategy through an expected refinance.
Investor Benefits
• Secured position via a first lien on a high-value agricultural property.
• Short-term loan with a defined exit strategy.
• Potential for attractive interest returns given the low LTV ratio.
• Investment backed by an experienced operator with a proven track record in AG operations.

This proposal is structured to provide security and confidence for investors while ensuring the success of Kevin Assemi’s citrus farming operations.

Attached : Valuation Reports, Maps and Details. Preapproval Letter for Takeout loan in next 6-12 months. The appraisal for the entire property with 1,200 acres is $18 million. The BPO of just the 400 acres of citrus is 14 million.

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Loan Request for Land loan in Wheeler Ridge, CA, 93203