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PlattPointe Capital Closes $11.7MM Construction Loan for CO Real Estate Developer

September 07, 2018, 08:00 AM
Filed Under: Construction


PlattPointe Capital recently closed an $11,700,000 construction loan secured by a high-quality property located in Westminister, Colorado. The loan was referred by a local real estate broker that was looking to help a client and secure the sales listing of the 42 units. The Sponsor had a hard deadline of August 2018 to start the project in order to keep with their original timeline.

PlattPointe Capital arranged financing for the project through a west coast-based private debt fund and structured the loan as interest only during the construction period with an option for additional financing on related properties. 

Loan Terms:

  • Development Loan Amount: $11,700,000
  • Leverage: 75% LTC
  • 12-month Interest Only Loan
  • Construction Development Loan

 

 







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