PlattPointe Capital recently closed an $11,700,000 construction loan secured by a high-quality property located in Westminister, Colorado. The loan was referred by a local real estate broker that was looking to help a client and secure the sales listing of the 42 units. The Sponsor had a hard deadline of August 2018 to start the project in order to keep with their original timeline.

PlattPointe Capital arranged financing for the project through a west coast-based private debt fund and structured the loan as interest only during the construction period with an option for additional financing on related properties. 

Loan Terms:

• Development Loan Amount: $11,700,000
• Leverage: 75% LTC
• 12-month Interest Only Loan
• Construction Development Loan