28 Unit Townhome Development - Denver, CO
$5,800,000 loan arranged by PlattPointe Capital.
DENVER, CO – PlattPointe Capital is pleased to announce the recent procurement of $5.8MM in senior construction debt financing for a 28-unit townhome development located in the Sloan’s Lake area of the Denver, CO MSA. PlattPointe was engaged by a seasoned Denver-based Sponsor, who has developed over 250 multifamily units to date, for their upcoming townhome project. The development will encompass a mix of one, two and three-bedroom units townhomes ranging in size from 1,359 square feet to 1,750 square feet with garages and rooftop decks. Units will be constructed over a 12-month period and will be listed for sale. PlattPointe was able to secure $3.2MM in preferred equity earlier this year for the project which will now subordinate to the senior construction lender. The development is expected to break ground in the Spring.
• 8% (WSJ Prime Rate)
• 12-Month Term with two 6-Months Extension Options
• 62% Loan-to-Cost
• Interest Only
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:
Jason Aubrey | 303.598.3876 | email@example.com
Creighton Bildstein | 303.589.4258 | firstname.lastname@example.org
Matthew Biegner | 720.470.7706 | email@example.com
TRANSACTION BY THE NUMBERS
Loan to Cost (LTC)