Loan amount
$3,500,000
Loan type
Purchase {Construction}
After Repair Value
$20,000,000 {PP:$2,000,000}
ARV
18% {ARV}
Property type
Other Commercial
Borrower Details
Credit score
800
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Center City
State
Colorado
Loan Details
Purchase price
$2,000,000
Down payment
$500,000
Cost of improvements
$2,000,000
Estimated property value after repairs
$20,000,000
Additional Loan Information
Financial Requirements and Initial Funding
- Requires an initial loan of $2,000,000 against his property, which he owns free and clear.
- The property was appraised at $16,500,000.
- The loan includes $500,000 for Earnest Money Deposit (EMD) and soft costs to initiate the project.
- An equity partner could potentially cover these initial costs.
- The plan involves placing debt on the construction part of the project.

## Project Phases and Costs
- A requirement of $20,000,000 is needed for the first phase to repay the initial $2,000,000 loan.
- The hotel casino project is estimated to cost approximately $700 to $750 million.
- Luxury townhomes
- Luxury residential homes
- Workforce housing for casino workers
- Multifamily housing component
- The complete build-out is expected to take approximately five to six years.
- The development will be executed in phases.
Status
Created
January 27, 2025 - 8:27am

Hard Money Lenders Now Offering Real Estate Investor Loans in Colorado Denver | Colorado Springs | Aurora | Fort Collins | Lakewood | Thornton Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans