Ground-Up 14-Unit Denver Condominium Construction

Transaction Description: JJay Brooks arranged the $3,950,000 construction loan for a 14-unit residential condominium development in Denver, Colorado. Located in an increasingly popular urban area, our Sponsor received ample interest in lining up pre-sales prior to ground-breaking. Sized to 72% of total cost and priced at P+1, repayment guarantees burn down to 50% of the outstanding loan balance upon Certificate of Occupancy and sale of units currently under contract. The 23 month loan term carried a ¾ point origination fee.