Horizontal Development Loan - Colorado Springs, CO
$3,800,000 loan arranged by PlattPointe Capital.
COLORADO SPRINGS, CO - PlattPointe Capital placed a $3.8M horizontal development loan for a mix of retail and multifamily development pad sales. The subject is a 36.58-acre site at the Southeast Corner of Woodmen Road and Marksheffel Road in Colorado Springs, Colorado. The property has been marketed for mixed-use development, including apartments and strip retail pad sites.
The loan was under application with a bank that was unable to fund in time. Fortunately, PlattPointe Capital had a direct relationship with a well-capitalized private debt fund and was able to close quickly with a creative structure that maximized proceeds. The team was able to close this loan in under 21 days and it was completely underwritten inside of the COVID-19 pandemic.
• $3,820,000 Loan amount
• 18 Month Term
• 60% LTV
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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TRANSACTION BY THE NUMBERS
Loan to Value (LTV)