Deal Details
Private Loan Type
Purchase
Approx. Funding Date
01/04/2018
Property Type
Multifamily
Property City
Denver
Property State
CO
Interest Rate
%
Origination Points
%
Deal Summary
In January 2018, Archway Fund financed a $5MM acquisition loan secured by two multi-family properties located in the Congress Park sub-market of Downtown Denver. The properties combined total 47,349 SF with 50 units. Sponsor was under contract to purchase both properties off-market and needed to close quickly in order to execute on their PSA. Sponsor is an experienced real estate investor who saw this as a value-add opportunity with plans of increasing rents by 20% on day one. Exit is a traditional refinance once the property is stabilized. The loan-to-value is 45% and the loan term is 18 months.