Development – Denver, CO

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Note Size: $346,000
<$50K Remaining

2023CO535GU

Note ID

2,448 SqFt

Size

4

Bedrooms

4.1

Bathrooms

Description

This is a b piece (1st loss) position of a senior loan on a new development in Cherry Creek neighborhood of Denver, CO. The loan is on a two townhome development being built in Cherry Creek neighborhood (between Cheeseman Park and Cherry Creek CC). The loan includes a personal guarantee from a sponsor with significant wealth and a profitable, thriving development business.

Address

Address: 535-537 Josephine Street
  • Country: United States
  • Province / State: Colorado
  • Postal code / ZIP: 80206
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  • Note ID 2023CO535GU
  • Price Note Size: $346,000
  • Property Type Townhouse
  • Property status <$50K Remaining
  • Bedrooms 4
  • Bathrooms 4.1
  • Year Built 2024
  • Size 2,448 SqFt
  • Label Subordinated Note
  • Note Type Infill Development
  • Whole Note - Annual Yield (%) 14.0%
  • Participation - Annual Yield (%) 14.0%
  • Loan Maturity Date (MM/DD/YY) 09/29/2024
  • Property Current Value ($) 1,175,000.00
  • Property Construction Budget ($) 1,251,717.23
  • Property After Repair Value ($) 4,640,000.00
  • Loan to Current Value (%) 76.88%
  • Loan to After Repair Value (%) 46.44%

Sponsor & Guarantor

Nathan A.

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