Property Address

232 E Riverside Dr. Estes Park Colorado 80517

Requested Loan Amount

$1,800,000

Loan to Value

75%

Loan Term

12 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Hospitality

Hospitality Property Types

Other

Other Hospitality Property Types

Cabins, Lodge, Suites and Standard Rooms with a tavern license

Number of Units

20

Current Occupancy

Tenant Occupied Partial

Current Occupancy Percentage

45

Loan Type

Acquisition

Square Footage

11,600

Has property been located?

Yes

Preferred Closing Date

03/30/2021

Purchase Price

$2,100,000

Purchase Contribution

$300,000

Purchase Contribution Source

Family

Purchase Plan

Redevelop

APN Parcel ID

3525121027; 3525121028

Lot Size

2.90 acres

Will additional properties be collateralized?

No

Property Photos

Borrower Entity

LLC

Borrower Credit Rating

Good

Additional Attachments

Comments

We are under contract for $2,1000,000 with a $30,000 seller concession at closing. There was an appraisal done in December 2020 (property appraised at $2,420,000) that we will be able to reassign. We have $470,000 (~$100k for reserves) of equity raised and are looking to finance the rest through a private lender - 12 to 24 month term. Looking to close 3/30/2021.

First Name

Brendan

Last Name

Gaughan

Phone Number

(213) 245-7493

Company

Ranger Hotel Group

Role

Borrower

Location

Boulder Colorado USA

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