Arapahoe County, CO
Portfolio of Residential Properties
Residential Ground-Up Construction04/12/2019
Lead Funding provided a private money construction loan for a large single family home development project in Eastern Arapahoe County, Colorado. The developer has a very large operation and has completed several large developments in the areas over the past few years. On this particular development, we have provided financing for several phases of the 150-lot project. A number of the homes have already been built and sold. Our most recent loan was a total of $2.3MM for the horizontal and vertical construction for 8 homes. The loan-to-cost was just under 100%. The estimated sale price for each home is $575,000 which will result in a 50% loan-to-value. The builder offers 10 different models to choose from. Ranch and two- story models to choose from. Many features can be upgraded at the buyer’s option. This development loan was funded in April 2019.