$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 Terms:
Loan Amount: $4,500,000
Term: 12 months (+ 3-month extension)
Interest Rate: 11.5%
Amortization: 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.
Please visit plattpointe.com
For any inquiries nationwide, please contact:
Jason Aubrey p: 303.598.3876 e: jason@plattpointe.com
Creighton Bildstein p: 303.589.4258 e: creighton@plattpointe.com
Matthew Biegner p: 720.470.7706 e: matt@plattpointe.com
Luke Johnson p: 515-447-8969 e: luke@plattpointe.com
