Draft · 7 of 12
C
Colonial Capital LLC
Phoenix, AZ · Private Lending
The Shoppes at Riggs Ranch
5070 S Gilbert Rd, Suite 100–400, Chandler AZ 85249
Multi-tenant Retail (Strip) · MVP Funding Investments, LLC · $4,400,000 senior debt · 5-yr term · 4.50% rate · 25-yr amort
Recommendation
Tentative · Approve
On the data verified so far, all credit thresholds are passing or borderline. 4 fields still need verification before this recommendation can be finalized — Replacement reserves (not found), Combined liquidity (calc), and 2 review items in Pro Forma. One field flagged for borrower-inflated 3.0% management fee.
Key metrics (live)
LTV
62.2%
Pass
DCR
1.34x
Warn
Debt yield
11.2%
Pass
NOI (stab.)
$494,986
Pending
Break-even cap
—
Awaiting reserves
Property
| Asset type | Multi-tenant Retail |
| Year built | 2006 |
| Gross leasable area | 15,420 SF |
| Current occupancy | 96.4% |
| Anchor tenant | State Farm |
| Implied value @ 7.0% cap | $7,071,228 |
| Phase I ESA | ⚑ Missing |
| Title commitment | ⚑ Missing |
| Appraisal | ⚑ Missing |
Borrower
| Entity | MVP Funding Investments, LLC |
| Sponsor 1 — Curran net worth | $2.40M |
| Sponsor 2 — Younan net worth | $3.10M |
| Combined liquidity | pending verification |
| Months DSCR covered | — (pending liquidity) |
| Credit (Curran) | 754 |
| Credit (Younan) | 768 |
| Schedule of REO | Reviewed |
| Borrower authorization | Both signed |
Underwriting fields & sources
| Field | Value | Source | Status |
|---|---|---|---|
| Replacement reserves pending | — Not found | No source · manual entry required | Awaiting input |
| Net operating income review | $494,986 | Pro Forma · Summary · Row 28 | Awaiting review |
| Other income review | $8,400 | Pro Forma · Summary · Row 14 | Awaiting review |
| Combined liquidity review | $1,180,000 | Derived from PFS | Awaiting review |
| Base rent | $487,420 | Pro Forma · Summary · Row 12 | Verified |
| Property taxes | $48,210 | Pro Forma · Summary · Row 18 | Verified |
| Occupancy | 96.4% | Pro Forma · Summary · Row 8 | Verified |
| CAM expense | $28,400$32,180 | Pro Forma · Summary · Row 22 → corrected | Corrected |
| Management fee | 3.00% | Pro Forma · Summary · Row 24 | Flagged |
| Avg monthly cash balance | $284,150 | Bank Stmt 1 · Pg 2 | Verified |
| Curran net worth | $2,400,000 | PFS · MMCC · Pg 3 | Verified |
| Younan net worth | $3,100,000 | PFS · MMCC · Pg 3 | Verified |
Items flagged for further review
⚑
Management fee · 3.0%
Reason: borrower-inflated. Market rate for retail strip in Chandler is 4.0–4.5%. Re-running DCR at 4.0% management fee yields DCR 1.27x (just below 1.30x target).
flagged 04.02.2026