Sherwood Forest, El Portal · Comp Radarsame subdivision
I
The Position
A $1,400,000 1st-lien bridge note, originated September 2024, secured by a six-instrument package. Currently delinquent — disclosed in full below.
Unpaid Principal
$1,400,000
UPB · interest-only, no paydown
3rd-Party Value
$1,367,486
2025 municipal lien/property report
Default Rate
24.00%
13% contract · 24% in effect now
Per Diem
$920.55
accruing daily at default rate
Senior 1st lien, six-instrument security package · UPB runs ~102% of 3rd-party value · matures Oct 1, 2026 · $14,000 exit fee due at maturity. Payment delinquency since Nov 2025 — see Diligence.
II
Accrual Projection
$920.55 accrues every day at the default rate. Interest-only — none of it touches principal.
Senior Claim · Live Accrual
$1,400,000.00
Anchored to UPB at page load · $920.55 / day at the 24% default rate
93 days
Day 030d60d93d · Maturity365d
Projected Balance
—
Added Accrual
—
Balance vs. Value
—
Simple-interest model, $920.55/day on $1,400,000 UPB at the 24% default rate, from the June 30, 2026 bid deadline. Balloon maturity falls at day 93 (Oct 1, 2026) — the $14,000 exit fee is due on top of the balance shown. Illustrative — excludes advances and costs; subject to a certified payoff.
III
The Capital Stack
Six instruments, one closing date. Real property, personal property, and the entity itself.
Instruments
6
recorded & executed same closing
Closing Date
Sep 9, 2024
Miami-Dade County recording
LLC Pledged
100%
membership interests, all of it
Personal Recourse
Full
two individual guarantors
01
1st Position Recorded Mortgage
Senior lien on the real property itself. Book 34398, Page 3384, Miami-Dade County — secures $1,400,000 plus interest, costs, and advances, with a future-advances clause up to $2,100,000.
Recorded 09/09/2024 · 10:24 AM02
Recorded UCC-1 Financing Statement
Filed same day. Covers all fixtures, equipment, and personal property; rents, accounts, contracts, and insurance proceeds; and — critically — the LLC membership interests themselves.
Same-day recording03
Pledge & Security Agreement
Borrower pledges 100% of the membership interests in the owning LLC as additional collateral — on top of, not instead of, the real property.
100% of LLC pledged04
Irrevocable Proxy Agreement
On default, the lender receives full voting control of the LLC directly — a path to control that runs independently of, and faster than, a judicial foreclosure.
Enforcement path · no court required05
Assignment of Membership Interests
A signed, notarized transfer of LLC ownership, executed at closing and held ready — exercisable on default without further action from the borrower.
Pre-executed at closing06
Personal Guaranty
Two individual guarantors, full recourse, joint and several — behind the entity, behind the real estate. Identities withheld in this memorandum; confirmed in the data room.
Full recourse · joint & severalThis is the structure the source file itself calls "a fully secured commercial loan with layered collateral, providing multiple enforcement paths." Foreclosure is one path among several — not the only one.
IV
Geospatial Intelligence
244 NE 85th Street, mapped against closed sales in the same Sherwood Forest subdivision. The subject's own legal description, not a borrowed comp set.
Subject Collateral
244 NE 85th Street
Lots 15 & 16, Block 8, Sherwood Forest subdivision (Plat Book 14, Pg. 30) — the recorded legal description itself. Single family, vacant. Floor size not on file; confirm in DD.
In-Subdivision Comps
4 closed sales · Sherwood Forest
Same subdivision as the legal description on the recorded mortgage. Closed sales ran $925K–$1.6M, Apr 2024–Jun 2025. Subject's UPB sits inside this range.
Village Depth
El Portal · pop. micro-village
Median list ~$1.09M–$1.15M (2026), $688–$700/SF. Designated bird sanctuary; Sherwood Forest Park and a 7-mile nature trail anchor the immediate area.
Asset · El Portal, FL
--:----
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Comparable Sales · Sherwood Forest, El PortalMLS-sourced closed sales
| Address / Area | Configuration | Price | Closed |
|---|---|---|---|
| 9001 NE 4th Ave | 6 bd / 3 ba · 3,230 SF | $1,600,000 | Jun 3, 2025 |
| Sherwood Forest | 2 bd / 2 ba · 1,084 SF | $1,140,000 | Nov 22, 2023 |
| Sherwood Forest | 3 bd / 3 ba · 1,315 SF | $972,175 | Sep 24, 2024 |
| Sherwood Forest | 3 bd / 2 ba · 1,122 SF | $954,500 | Feb 28, 2024 |
| Sherwood Forest | 2 bd / 1 ba · 1,218 SF | $925,000 | Apr 4, 2024 |
| 244 NE 85th Street | Single family (config. unconfirmed) | $1,367,486 value | UPB $1,400,000 |
Subject's $1.4M UPB sits at the top of, and slightly above, the confirmed Sherwood Forest sale range. The 9001 NE 4th Ave sale is fully confirmed (Redfin, three sources); the four smaller Sherwood Forest sales are aggregator-sourced — confirm against county record. Subject's own square footage is not on file; $/SF comparison is not yet possible.
V
Diligence & Data Room
One fact decides the timeline. Confirm it directly — not from the cover sheet.
Payment Status
File's Own Status Note
"Missed 1 Payment, Demand Letter Not Sent"
That note appears to date to shortly after the November 2025 due date. No foreclosure is filed — Legal Status reads "None."
Payment Schedule on File
~8 Months Delinquent, Not 1
Last payment received Oct 1, 2025; next due Nov 1, 2025 — unpaid since, per the dates on record. Confirm current arrears and demand-letter status directly with the servicer.
Data Room Manifest — 96 Pages, 14 Instrumentsavailable upon qualified bid
Balloon Promissory Note
Recorded 1st Mortgage
Recorded UCC-1 Financing Statement
Pledge & Security Agreement
Irrevocable Proxy Agreement
Assignment of Membership Interests
Personal Guaranty
Certificate of Corporate Resolution
LLC Resolution to Borrow
Borrower & Guarantor Affidavits
Non-Owner Occupancy Affidavit
Title Policy & Commitment
Municipal Lien Search / Property Report
Closing (HUD-1) Statement
Full file released upon qualified bid acceptance
The Position
Six-Instrument Senior Stack
Mortgage, UCC-1, 100% membership pledge, irrevocable proxy, assignment of LLC interests, and personal guaranty — all recorded or executed at the same September 2024 closing.
Primary Risk
Delinquent, Balloon Due Oct 2026
~8 months of missed payments per the dates on file, against a maturity just over three months out. Underwrite the demand-letter timeline, not the headline rate.
Recovery Edge
Control Without Foreclosure
The irrevocable proxy and pre-executed assignment offer a path to LLC control independent of judicial foreclosure — Florida is a judicial state, with real timeline risk on that path alone.
VI
The Bid Process
Three steps. One deadline. Full 96-page file opens upon qualified bid acceptance.
Bid Deadline
June 30, 2026
—Days
—Hrs
—Min
—Sec
Qualified bids accepted through end of business
01
Submit Qualified Bid
Submit a letter of intent with proposed purchase price and proof of funds through June 30, 2026 via the form below.
02
Bid Acceptance
Upon acceptance, the full 96-page collateral file opens — all six instruments, title policy, property report, and payment ledger.
03
Closing
Note purchase agreement executed. Senior position, UCC-1, membership pledge, proxy, and assignment all transfer to the acquiring party.
Indicative Bid · Qualified Recipients
Submit Your Bid
Complete the fields below. On submit, your secure email client opens a pre-addressed message to RCP with your indicative terms — review and send. No data is transmitted from this page.
Or contact the desk directly: Coreylfuller@rcpcap.com
RCP Capital Market Intelligence · Lux et Ordo
RCP Capital Market Intelligence · Lux et Ordo
Φ
The Optic Anchor
Agnitionem construimus.
Capital does the rest.
Disclosed risk, priced cleanly, is the institutional thesis.
Strip the friction.
Stack the truth.
Move the capital.
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