Wyndemere Country Club · Comp Radarsame community
I
The Position
A senior loan in default on Naples residential collateral, in foreclosure with final judgment. Offered below unpaid principal.
Unpaid Principal
$1,000,000
UPB per offering documents
Stated Value
$1,300,000
sponsor-provided · confirm in DD
Note Rate
24.00%
per annum · default engine
Per Diem
$657.53
accruing daily
Senior 1st lien, single-asset, non-performing · 85% ITB · 64% ITV · 76% LTV · in foreclosure, final judgment entered. Ratios per offering documents; see Diligence for legal posture.
II
Accrual Projection
$657.53 accrues every day at the note rate. Default interest compounds the senior claim.
Senior Claim · Live Accrual
$1,000,000.00
Anchored to UPB at page load · $657.53 / day at the 24% note rate
180 days
Day 06 mo12 mo18 mo24 mo
Projected Balance
—
Added Accrual
—
Balance vs. Value
—
Simple-interest model, $657.53/day on $1,000,000 UPB at 24%, from the June 29, 2026 deadline. Illustrative — excludes advances, fees, costs, and recoverable items; subject to a certified payoff and the legal posture under Diligence.
III
Geospatial Intelligence
874 Wyndemere Way, mapped against recent sales inside the same gated club. Comparables drawn from one community, one zip.
Subject Collateral
874 Wyndemere Way
3 bd / 2.5 ba · 2,420 SF · 0.38 ac · vacant. Last arm's-length sale $1,140,000 in June 2024 — $471/SF, the loan's origination basis.
In-Community Comps
4 sales · Edgemere · Rosemeade
Same gated club, zip 34105. Larger estate homes ran $2.35M–$3.90M at $380–$631/SF — the subject is the smallest footprint, anchoring the low end of the range.
Community Depth
634 residences · 450 acres
~18 active listings (Apr 2026), avg ask ~$964K at ~$434/SF, range $440K–$3M. Member-owned club, membership capped at 535 — the source of the ~$125K transfer obligation.
Asset · Naples, FL
--:----
—
Comparable Sales · Wyndemere Country ClubMLS-sourced · deemed reliable, not guaranteed
| Address | Configuration | Sold | $ / SF |
|---|---|---|---|
| 336 Edgemere Way E | 6 bd / 6.5 ba · 7,866 SF | $3.90M | $496 |
| 122 Edgemere Way S | 5 bd / 4 ba · 6,322 SF | $2.40M | $380 |
| 396 Edgemere Way E | 4 bd / 5 ba · 4,372 SF | $2.595M | $594 |
| 426 Rosemeade Ln | 3 bd / 3.5 ba · 3,722 SF | $2.35M | $631 |
| 874 Wyndemere Way | 3 bd / 2.5 ba · 2,420 SF | $1.140M | $471 |
Subject sits inside the community range at $471/SF. Comps are public MLS/county record for the same gated community — not RCP appraisals. A current BPO and on-site condition report govern; confirm in data room.
IV
Open Diligence Items
The discount is the thesis. Material recovery items disclosed in full, not designed around.
Recovery Path · Active Bankruptcy
The borrower filed Chapter 13 bankruptcy on the eve of the scheduled foreclosure sale, staying the sale and extending the timeline. The matter remains active and the recovery path runs through the bankruptcy docket. A bidder must underwrite the legal timeline as the primary variable — these items are reproduced from offering correspondence and must be confirmed against the court record and a current title/litigation report in the data room.
Bankruptcy Posture
Chapter 13 · Filed Pre-Sale
Petition filed on the eve of a foreclosure sale, after final judgment was entered. Borrower remains behind under the proposed plan and has been repeatedly delinquent; counsel has sought repeated continuances.
Reconsideration Hearing
Reset to May 15, 2026
Motion for Reconsideration of the Order Dismissing the Chapter 13 case was reset, conditioned on the borrower curing — any failure to comply leaves the case dismissed. Confirm current docket status and outcome.
Borrower Capacity
Income Profile
Offering correspondence states the borrower's sole current income source is social security, against a plan the borrower has struggled to fund. Material to plan-feasibility and cure probability — confirm via filed schedules.
Carrying Obligation
~$125K Membership Fee
Offering correspondence indicates a mandatory ~$125,000 club membership fee attaches to any new owner taking the property through foreclosure. Must be priced into any take-back recovery scenario — confirm amount, transferability, and lien priority.
The Position
Senior 1st-Lien Control
Acquirer steps into the senior secured position — lender rights and the final judgment intact — at a basis below the $1,000,000 UPB. The entry discount is the buffer.
Primary Risk
Legal Timeline
Resolution runs through an active Chapter 13 with a history of delay. Underwrite time-to-resolution and cost-to-complete as the core variables, not the headline ratios.
Take-Back Cost
Membership + Carry
A foreclosure take-back carries the ~$125K club membership obligation plus taxes, insurance, and assessments. Net these against stabilized or liquidation value.
V
The Bid Process
Three steps. One deadline. Data room opens upon qualified bid acceptance.
Bid Deadline
June 29, 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 29, 2026 via the form below.
02
Bid Acceptance
Upon acceptance, the data room opens with the full loan file, title, payoff statement, court docket, and collateral file for diligence.
03
Closing
Note purchase agreement executed. Senior credit position and all lender rights transferred 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.
Φ
Φ
Φ