Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 264

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 264
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 second factor is the overall lender and
funding source preference to lend to Build To Lease and Improved Lots for sale developments, due to the perception that these two avenues
are a safer investment over the long term. Finally, the extraordinary amount of interest from non-traditional sources such as pension
and hedge funds, insurance companies and venture capital firms to purchase completed new For Lease developments at attractive metrics,
as well as the virtually unlimited demand for improved lots from national builders has spurred a large growth in these market segments.

The
Company has made the decision to change focus to better accommodate these growing trends. Currently most of the Company’s new multi-family
developments, have been or will be changed from Build For Sale to Build for Lease or Improved Lots for Sale. The Company may hold finished
properties upon completion and lease-up for an indeterminate period of time, and realize the rental income from ownership, or sell improved
lots to 3rd party purchasers. This strategy will become a very significant revenue stream for the Company and these avenues
have become third & fourth divisions of the Company, behind new custom single family homes and renovation/elevation projects.

17

Dream
Homes’ operations include the development and sale of a variety of residential communities, including construction of semi-custom
homes, single and multi-family homes and new home Build to Lease and Improved Lots for Sale. Dream Homes will continue to pursue opportunities
in these areas.

Properties
currently owned and either improved or under construction

Berkeley
Terrace – Bayville, NJ – 70 approved townhome units

The
Company has been in title to this property since 2021 and finalized an infrastructure and construction finance facility which closed
on 3/31/23. This facility included refinancing the land debt, securing funding for a large portion of the site construction, as well
as funding the first building of 10 townhomes. The amount of the facility is $4,670,000.

The
Company began infrastructure work on the property in June of 2023, with land clearing completed and the site stabilized for soils erosion
control. Sanitary sewer, water and drainage has been installed on the entire property.

All
building pads have been compacted and completed.

Base
paving has been completed and the entire site has been fully improved.

The
Company has entered into an agreement with a national builder to deliver improved building sites for this project. It is in the Company’s
opinion that the financial advantages inherent in the sale of a portion of