50 Unit Townhome Development - Westminster, CO
$14,500,000 loan arranged by PlattPointe Capital.
WESTMINSTER, CO - PlattPointe Capital recently closed a $14,500,000 construction loan in Westminster, CO secured by a well-located property to build 50 townhomes. The loan was referred by a local real estate attorney that was looking to help a very active developer client. The Sponsor had a hard deadline to start the project by July 2019 in order to secure the resources to start another project in early 2020.
PlattPointe Capital arranged non-recourse financing for the project through a Pacific Northwest based private debt fund and structured the loan as interest only during the construction period with an option for additional financing on other projects.
- Development Loan Amount: $14,500,000
- Leverage: 82% LTC
- 18-Month Interest Only Loan
- Non-Recourse to Sponsor
- Construction Development Loan
About PlattPointe Capital:
PlattPointe Capital provides alternative financing solutions to commercial real estate investors and developers. With a variety of commercial lending options, we pride ourselves on our ability to meet clients’ diverse borrowing needs with quality service and individual attention.
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)