Cash Out Land Loan Refinance - Lehi, UT
$6,000,000 loan arranged by PlattPointe Capital.
LEHI, UTAH - PlattPointe Capital placed a $6,000,000 cash out refinance land loan to meet the developer’s portfolio-wide needs as well as prime entitlements for the future development of this site located in Lehi, Utah. The site, named Cross Creek is expected to be a 500-unit multifamily and commercial riverfront project. The community will be located just off of Highway 15, across from Utah Lake, 20 minutes from Provo (Home of BYU) and 30 minutes south of Salt-Lake City.
The Provo-Lehi-SLC MSA has seen unprecedented job growth over the last decade as large National technology and financial firms have relocated in droves from expensive coastal markets. Cross Creek will provide much needed attainably priced housing for Lehi, which will continue to see large in-migration as employees flock to the Rocky Mountain region as working remotely has gained acceptance and people recognize the beauty and accessibility of Utah.
About PlattPointe Capital:
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the ever-changing capital markets by arranging numerous 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.
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