Shepherd's Finance sells 339 Justabout Land Co. for $10.4M, increases loan commitment to $13.45M

Shepherd's Finance, LLC

Sold 100% of 339 Justabout Land Co. to Mark L. & Barrett Hoskins for $10,366,869.
Loan commitment to related borrowers increased from $1.95M to $13.45M via Third Amendment.
New advances bear interest at COF + 5.5%; existing $1.95M balance at COF + 7.0%.
Pro forma: $9.65M real estate removed, $11.37M loans added; transaction increases net income.
Buyers are original sellers (Feb 2024) and control company's largest customer.

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