$4.96M
Debt retired at par or better
Guesthouse Company
Guesthouse Places
Every lender who has financed a Guesthouse property has been repaid in full, on time or early. Two increased their exposure mid-relationship. Prepared from verified payoffs and third-party appraisals.
As of August 10, 2026 · debt and payoff figures verified to settlement statements · appraisal-based values marked EST
100%
On-time or early payoff (4 of 4)
0.0%
Default rate
$0
Lender loss experience
Completed exits · lender by lender
A publicly traded institutional bank -- TriCo Bancshares, NASDAQ: TCBK, ~$9.9B in assets -- extended construction credit to the project.
1st TD, 10403 High St (construction to perm) · payoff $1,806,619.51 incl. $17,807.32 prepayment fee · exit via CBC SBA refinance
$1.81M
~$420K interest (EST) + $17,807.32 prepay fee · ~5.9%/yr
President of Income Property Services (IPS, Walnut Creek), two decades in real estate investment with millions deployed in private credit -- an SEC 13F filer. He increased his position mid-loan ($1.0M to $1.2M, 9/2025).
Lending entity: IRBMB, LLC · 2nd TD x3 parcels, 12% interest-only · payoff $1,219,330.00 · exit via CBC SBA refinance
$1.22M
~$282K interest + fees · ~11.8%/yr
The seller entity of the principals of Crestwood Construction, a respected Truckee building firm, carried ~$1.4M on 10382 Donner Pass. We extended early -- a 3-month extension negotiated before maturity, with a $16,500 fee (~1.1%) paid that was not required -- then repaid in full ahead of the extended date.
Seller carry, 10382 Donner Pass · extended early, repaid early · exit via Bridger $1.5M refinance (BOV +24% over Colliers)
$1.43M
full principal + interest + $16,500 extension fee
An established Southern California bridge lender (Torrance), Robert Abbasi president, extended personal-guaranty credit -- retired cleanly, reconveyance on record.
Lending entity: Bronzetree Terraces, LLC · 2nd DoT x2 (2914 Emerson + 10403), 13.75% · $500K · reconveyance recorded 7/11/2024, Nevada County Doc# 20240010689
$500K
$38,750 origination + 13.75% interest · ~13.5-mo term
Current stack · outstanding facilities
Palm Springs hospitality operators -- co-owned and exited Billy Reed's, the 50-year Palm Springs landmark (est. 1975). They carried the balance of the Parcel One purchase price -- behind a $500K deposit and the $300K first -- at 6% / 25-yr am / 10-yr term, materially better than the 7-9% market.
Seller carry, 2nd position, 486 Mel · relationship load-bearing for Parcels 2 & 3 option (life of SPE)
$1.875M
6% · 25-yr am · $11,114.20/mo
A commercial RE mortgage fund -- joint venture of Doug Watson and Slatt Capital -- that writes institutional-scale bridges ($8.9M San Francisco acquisition, 12/2025).
1st TD bridge, performing · takeout: Celtic Bank SBA 7(a), application in underwriting
$1.5M
1st TD bridge, performing -- second Bridger loan within 10 days of the first · takeout identified: Palm Springs campus facility (~$3.1M, in discussion with Slatt)
$300K
A ~$3.7B-asset SBA Preferred Lender with a 0.00% charge-off rate on mature SBA loans (216 loans / $316.6M, FY2020-2025).
SBA 7(a), Truckee Flagship 10403 · the takeout that exited TCBK and IRBMB · permanent debt, performs
$3.135M
funded 7/30/2026 · per settlement statement
Asset values · basis, as-is, as-developed
| Asset | Acquisition basis | As-is appraised | Completion value | Debt | LTV (as-is) | Equity (as-is) |
|---|---|---|---|---|---|---|
| Truckee Flagship 10403Colliers 2026 · CBC SBA 7(a) | TBDclosing stmts | $4,400,000 | $4,900,000 | $3,135,000signed settlement stmt | 71% | $1,265,000 |
| Titus House, 10382 Donner PassColliers as-is · Bridger BOV 2026 | TBDclosing stmts | $2,450,000BOV · Colliers $1.98M | TBD | $1,500,000 | 61%at BOV | $950,000at BOV |
| Palm Springs Parcel One, 486 Melincome approach · 16 units + residence | $2,475,000 | $4,480,000EST | TBD | $2,175,000carry $1.875M + Bridger $300K | 49% | $2,305,000 |
| Total | TBD | ~$11,330,000 | ~$11,830,000+where appraised | ~$6,810,000 | ~60% | ~$4,520,000 |
$11.3M
Value, as-is (EST)
$11.8M+
Completion value (EST)
$6.8M
Total debt · ~60% LTV
~$4.5M
Equity, as-is
Registered entities · Dun & Bradstreet
| Entity | D-U-N-S # | Type | Established |
|---|---|---|---|
| Guesthouse Hospitality Company | 11-127-4441 | Corporation | 2019 |
| Guesthouse Flagship Stewards, LLC | 11-126-1364 | LLC | 2020 |
| Titus House, LLC | 09-916-9605 | LLC | 2017 |
Performance summary
Four capital providers -- a NASDAQ-listed bank, a private credit investor who increased his commitment mid-loan, a respected Truckee construction firm, and an established bridge lender -- have been repaid in full, with profit: 100% on-time or early payoff, a 0.0% default rate, and zero lender losses, through COVID, construction, and two refinances executed on deadline weeks. Twice a provider chose to increase exposure rather than exit: Ron Elvidge raised his position from $1.0M to $1.2M mid-loan in September 2025, and Bridger Fund wrote a second facility within ten days of the first. In private credit a lender coming back is the reference that cannot be manufactured. When the Titus note approached maturity, the company negotiated a three-month extension in advance, paid an optional fee of approximately 1.1%, and repaid ahead of the extended date.
Sources: settlement statements (First American RIW-7336908 · Fidelity FBDO-2604480) · verified payoff statements · Colliers 2026 · Bridger BOV 2026 · recorded county instruments