Bar Mar Entertainment

64K Immediate need for surety bond on 5M loan for impending closing 2/2/2021

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Real Estate: Residential, Luxury, Commercial, Investment, Senior Living

Commercial Buyer Client is seeking a 64K loan for the duration of 2 weeks. It will be used to cover a surety fee from his capital investor/Lender, in a shopping center and Production (live venue, soundstage, recording studio, pod cast studio) Complex. The 64K will be used to secure the 5M loan (payable 4 days after receipt of surety bond. Buyer will reimburse lender the 64K within 2 weeks  plus an additional 20K for keeping the transaction on time. Buyer is a former NBA Basketball Player with the Houston Rockets and has been active in the Recording and stage entertainment production for over 30 years.  He has been working on this project for well over a year.  Covid created a situation where he has  not  been able to produce a live show due to restrictions therefore, his last piece of funding (he has paid 23K for partial pay to the surety bond, Earnest for the complex, has performed all due diligence ) and is 64K from being able to close out this life and career changing opportunity. If he does not meet his deadline he may/will be charged excessive late / extension fees or the Seller may opt to cancel contract. 

The Buyer is a well known personality in the Houston Entertainment and sports market. This project will establish a centerpiece for the Houston Production community and Entertainment  community to solidify its talents and expand it's deliverables.

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