$4.5MM LAND LOAN CLOSING
PlattPointe Capital recently closed a $4,500,000 horizontal lot construction loan for the development of 162 residential lots in Pueblo, CO. This is the first of multiple phases in a project that will eventually span over 1060 acres and consist of around 4,850 residential units.
PlattPointe was able to arrange the loan with a local group that allowed the sponsor to close without bringing any additional cash to the table. The structure was also created in such a way that interest will only be accrued on the amount that has been drawn, ultimately saving the sponsor around $200,000 in phase one alone.
Loan Amount: $4,500,000
Term: 12 months (+ 3-month extension)
Interest Rate: 11.5%
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.
Please visit plattpointe.com
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