Sage Ranch ComparableHum. This development is all fully approved and ready to go.
https://www.loopnet.com/Listing/NWC-Pinion-St-Tehachapi-CA/31321858/ Listing price is less then $21,000 per unit.
Translate to Sage Ranch's (995) units, that's a valuation price of $20.7M for Sage.
Not exactly comparing apples and apples but definitely close enough too say,
$181M sale price for Sage Ranch (as is) is a friggin' joke.
Would also show why it has never even been listed for sale. Just more BS.
Also shows why VOYA is limiting the amount of available credit (if it happens) based on what is securable.