19 Unit Townhome Development - Denver, CO
$7,170,000 loan arranged by PlattPointe Capital.
DENVER, CO - PlattPointe Capital recently closed a $7,170,000 construction loan for the development of 19 for sale townhomes in Denver, CO. The project, named Berkeley Shores sits on a desirable property on the edge of Rocky Mountain Lake and is adjacent to Rocky Mountain Lake Park. Prices range are expected to be in the high $400’s to the high $500’s.
The developer, New Communities LLC, is seeking to capitalize on the residential growth in the Berkeley neighborhood of Denver with the project slated for delivery early 2021.
• Loan Amount: $7,170,000
• Leverage: 83% LTC
• Term: 18 Months
• Amortization: Interest Only
• No pre-sales required
About PlattPointe Capital:
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the capital markets by arranging optimal alternative debt and equity options for a client’s project. Our vision is to engineer the most efficient capital stack based on the constraints of a given project and sponsor’s needs.
More information can be found at www.plattpointe.com.
For any inquiries nationwide, please contact:
TRANSACTION BY THE NUMBERS
Units For Sale
Loan to Cost (LTC)