Commercial Condos - Aspen, CO
$5,400,000 loan arranged by PlattPointe Capital.
ASPEN, CO - PlattPointe Capital recently arranged a permanent loan for a portfolio of 12 commercial condominiums that total approximately 30,000 SF of retail and commercial space at the base of the popular ski resort, Aspen Highlands in Aspen, CO. Owned by a local value-add real estate developer and investor who had an expiring loan, PlattPointe was able to arrange a five-year fixed term loan that included a year of interest-only payments which helps to offset the increasing interest rate environment. The properties consist of retail, office, and storage condominiums within the three 3-story residential buildings. Current occupancy is 98.61% with 53 users and tenants, many of which utilize co-working executive office space.
Aspen is a well-known upscale resort town with quick access to multiple world-class ski areas. Like most resorts, it has suffered from an extremely limited supply of commercial and residential inventory. Since the pandemic, property values have soared as many seek relocation to mountain towns to fulfill the work-from-home trend.
PlattPointe was able to secure a lender with attractive terms in a timely manner to take out the expiring mortgage.
• 6.375% fixed rate
• 5-year fixed term
• 30-year amortization
• No pre-payment penalty
• First year interest-only
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 | firstname.lastname@example.org
Creighton Bildstein | 303.589.4258 | email@example.com
Matthew Biegner | 720.470.7706 | firstname.lastname@example.org
TRANSACTION BY THE NUMBERS
Fixed Interest Rate