MIAMI, March 7, 2019 /PRNewswire/ -- Investors may acquire interest in the loan by purchasing KDM2019-N001 Mortgage Secured Notes ("Notes") issued by Korth Direct Mortgage LLC.
The Notes and the Loan are expected to be A- rated by Egan-Jones Rating Service.
The Loan will be based on a first mortgage on four commercial buildings in Hammonton, New Jersey, the Blueberry Capital of the World, 30 miles by train East of Philadelphia, PA.
Based on the appraisals of the commercial properties, the Loan to Value is expected to be 68% and the Debt Service Coverage Ratio is 1.40.
The Mortgage Secured Notes are ERISA Eligible and are expected to be delivered through Depository Trust Company pursuant to SEC Rule 144A. They also may be delivered directly to accredited investors pursuant to SEC Regulation D.
This is the seventh in a series of Middle-Money financings provided by Korth Direct Mortgage LLC.
To receive a copy of the Preliminary Offering Memorandum investors may contact their financial advisor or write an email to firstname.lastname@example.org. For the KDM website please go to Middle-Money.com
About Korth Direct Mortgage LLC ("KDM") - KDMMTG
Korth Direct Mortgage ("KDM") is a commercial real estate lender based in Miami, Florida. KDM specializes in lending on income producing commercial real estate. The company finances its loans by single-asset single borrower securitizations via its Mortgage Secured Note ("MSN") program. MSNs are corporate bonds issued by KDM and dependent upon and secured by the underlying mortgages made by KDM. The company began lending and completed its first securitization in 2017, and has pioneered the Middle-MoneyTM lending concept via its national lending platform KDMFinancial.com and Middle-Money.com. More information can be found at KorthDirect.com. Middle-Money is a trademark of Korth Direct Mortgage LLC. J. W. Korth & Company LP Founded in 1982 is the underwriter for KDM.
Contact: James Korth or Holly Korth
Phone: 786-693-8651 or 786-693-8652
SOURCE J.W. KORTH & COMPANY