19 unit Townhome Development - Wheat Ridge, CO

WHEAT RIDGE, CO - PlattPointe Capital recently arranged an $8.9MM ground-up construction loan for the development of (19) for-sale townhomes that will all be 3-bedroom and 4-bathroom units with two car garages located on 40,000 SF of land in Wheat Ridge, CO. The sponsor is an experienced local real estate developer and investor who has completed numerous other successful projects in the Denver MSA.

Wheat Ridge is a popular suburb of Denver, CO and boasts proximity to many amenities including the SCL Health Hospital, Clear Creek Crossing (a mixed-use development), Prospect Park, the Coors Campus redevelopment and numerous restaurants and bars. The town has much to offer, including easy mountain access via I-70 which leads directly to many major Colorado ski resorts.

PlattPointe was able to secure a private lender with attractive terms in a timely manner.

Financing Highlights

· 11.5% interest rate
· 68% LTV
· 80% LTC
· Non-Recourse
· Interest-only

Present Market Conditions

Since the U.S. Federal Reserve began aggressively raising interest rates in the second quarter of 2022, real estate investors, owners, and developers are facing much more costly financing options for their properties and developments. Higher mortgage payments, smaller loan amounts, lower valuations, and the requirement of a significant depository relationship are just a few of the characteristics that make for a challenging lending environment. PlattPointe Capital has a variety of financing tools that we can offer if you find yourself in a difficult position with a property you need to refinance or land you need to build on.

About PlattPointe

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:
Jason Aubrey | 303.598.3876 | jason@plattpointe.com
Creighton Bildstein | 303.589.4258 | creighton@plattpointe.com
Matthew Biegner | 720.470.7706 | matt@plattpointe.com