This was another syndication deal that was done with 92 investors, the project was to acquire a land lease for 99 years on a piece of property on which we placed some trailer park model trailers to create a 208 unit lodge that is rented out to the workers in the Bakken.
With the historically low oil prices in late 2015 this project’s cash flowing capabilities has been hindered but there are some changes happening in that area in terms of temporary camps being shut down. This lodge is one of a few that has a permanent permit so were confident that will help turn things around for us there.
- 2588 134th Av NW
- North Dakota
- For Sale
- Property Type: