The subject property is described as The Pond Bay Club, a 15-acre site with 650 feet of direct beachfront on the secluded Chocolate Hole Bay on the Caribbean Sea, currently hosting 26 built villas. It is located in one of the most desired locations on the US Virgin Islands, just a short 5-minute drive to downtown Cruz Bay and Ferry Dock. To keep the loan to value low, we are taking additional collateral, namely a property called The Lumberyard, a space currently used as a parking lot located just above Cruz Bay, which is the primary access to St. John. A broker’s fee of $130,000 was paid at closing.