Summary
Green Acres Milling - Subordinate Construction Loan is a $20,000,000 loan offering structured as a subordinated position in Albert Lea, MN listed on Steward.
The offering carries a stated rate of 12.5%, a term of 60 months, a loan-to-value of 71.37%, and a minimum investment of $100.
It is secured by Second-position deed of trust on real estate and improvements + second-priority UCC on all machinery and equipment of the to-be-built mill, with assignment of rents and leases. Personal guarantee from Landon and Anne Plagge. Bonded GMP construction contracts (Todd & Sargent for GC, Buhler Equipment Group for milling equipment) with secondary bond assignments to Steward. Third-party construction monitor approves all draw requisitions. Gross LTV inclusive of senior financing: 71.37% on a $63.05M "as-completed" independent appraisal.
across 47 tracked Steward offerings the median disclosed rate is 8%.
Terms shown here are drawn from website disclosures and were captured by AltStreet on 2026-05-29. Figures are as disclosed at the time of the offering and are not updated for subsequent performance.
Disclosed Terms
- Offering amount
- $20,000,000
- Stated rate
- 12.5%
- Term
- 60 months
- Loan-to-value
- 71.37%
- Position
- subordinated
- Minimum investment
- $100
- Collateral
- Real Estate And Equipment
- Return type
- Fixed Interest
- Distribution frequency
- Monthly
- Tax document
- 1099-INT
- Status
- Open
- Target return
- 12.5% APR
- Senior secured
- No
- Collateral in place at close
- No
- Liquidity
- Locked
- Distributions
- Contractual
- Lockup
- 60 months
- Expected exit
- 2030-12-12
Terms as disclosed at the time of the offering. AltStreet does not update these figures for subsequent performance, and a disclosed rate is not a realized return.
Where It Sits in Steward's Book
Disclosed rate
12.5%
Above 100% of peers, median 8%. High for the book.
Hold period
60 mo
Above 87% of peers, median 10 mo. High for the book.
Compared against 45 other Steward private credit offerings with a disclosed rate. A percentile places a disclosed term, not a result. Browse the full Steward book.
Terminal Analysis
Terminal analysis for this offering
Terminal access unlocks rate, LTV, and term percentiles against every tracked peer, 46 comparable offerings side by side.
Access full researchQuestions About This Offering
What is Green Acres Milling - Subordinate Construction Loan?
Green Acres Milling - Subordinate Construction Loan is a $20,000,000 loan offering structured as a subordinated position in Albert Lea, MN listed on Steward. The offering carries a stated rate of 12.5%, a term of 60 months, a loan-to-value of 71.37%, and a minimum investment of $100. It is secured by Second-position deed of trust on real estate and improvements + second-priority UCC on all machinery and equipment of the to-be-built mill, with assignment of rents and leases. Personal guarantee from Landon and Anne Plagge. Bonded GMP construction contracts (Todd & Sargent for GC, Buhler Equipment Group for milling equipment) with secondary bond assignments to Steward. Third-party construction monitor approves all draw requisitions. Gross LTV inclusive of senior financing: 71.37% on a $63.05M "as-completed" independent appraisal.
What interest rate does Green Acres Milling - Subordinate Construction Loan pay?
The offering carries a stated rate of 12.5% over a term of 60 months, as disclosed at the time of the offering on Steward. Stated rates are not guaranteed returns; repayment depends on the borrower and the underlying collateral.
What is the loan-to-value on Green Acres Milling - Subordinate Construction Loan?
The disclosed loan-to-value is 71.37% on the property in Albert Lea, MN. For fix-and-flip and construction lending, this ratio is typically measured against after-repair value rather than the current as-is value, so it reflects a projected valuation rather than a realized one.
What is the minimum investment for Green Acres Milling - Subordinate Construction Loan?
The disclosed minimum is $100. Eligibility, availability, and the current status of this offering are determined by Steward, not by AltStreet.
Is Green Acres Milling - Subordinate Construction Loan still open to investors?
AltStreet's record shows the offering as open. AltStreet tracks this offering from platform disclosures, last captured 2026-05-29. Offering status changes without a corresponding filing in many cases, so current availability should be confirmed directly with Steward before acting.
Related Offerings on Steward
Green Acres Milling — Non-Guaranteed B&I Loan
Albert Lea, MN · Private Credit
StarWalker — Working Capital To Scale Direct-to-Consumer Sales
Fort Jones, CA · Private Credit
StarWalker — Funding To Purchase USDA-Inspected Processing Facility
Fort Jones, CA · Private Credit
Steward Regenerative Capital
Private Credit
Cairnspring Mills Skagit — 2026 Grain Inventory Financing
Burlington, WA · Private Credit
Cairnspring Mills Blue Mountain — New Mill Grain Inventory Financing
Pendleton, OR · Private Credit
Harbor Master Beef — Land Purchase For Regenerative Ranch
Clatskanie, OR · Private Credit
New England Fishmongers — Outfitting New Seafood Storefront
Dover, NH · Private Credit
East Fork Cultivars — October 2021 Bridge Financing
Takilma, OR · Private Credit
Tre-Fin Day Boat Seafood — Rockfish And Black Cod Inventory Purchasing
Ilwaco, WA · Private Credit
Astoria Food Hub — Construction Disbursement I
Astoria, OR · Private Credit
East Fork Cultivars — April 2021 Bridge Financing
Takilma, OR · Private Credit
Saturn's Return — Farmland Property And Equipment Purchase
Friday Harbor, WA · Private Credit
Old Salt Co-op — Grass-Fed Meat Processing Facility Purchase
Helena, MT · Private Credit
Woodberry Kitchen — Bridge Loan For Regenerative Food Venue
Baltimore, MD · Private Credit
Tre-Fin Day Boat Seafood — Fish Processing Construction Loan
Ilwaco, WA · Private Credit
Astoria Food Hub — Construction Disbursement II
Astoria, OR · Private Credit
Normanton Farms — Seasonal Inputs For Regeneratively Raised Meats
Litchfield, NH · Private Credit
Old Salt Co-op — Grant Reimbursement For Grass-Fed Meat Processing Facility
Helena, MT · Private Credit
Circle Seafoods — Blast Freezing Equipment
Bristol Bay, AK · Private Credit
Old Salt Co-op — Acquisition Loan For Butcher's Table
Helena, MT · Private Credit
Old Salt Co-op — Restaurant Construction Bridge Loan
Helena, MT · Private Credit
Old Salt Co-op — Processing Facility Electrical Work Bridge Loan
Helena, MT · Private Credit
Lil Bucks — Inventory Financing For Lil Bucks Expansion
Chicago, IL · Private Credit
Private Credit offerings on other platforms
All Steward offerings →All private credit offerings →