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Castle Pines, CO (lot 1) – $575,000

Invest In This Loan
LOAN ID: 2022COGULOT1

PROPERTY DETAILS

ADDRESS

Purchase Price

$575000

As-Is Value (AIV)

$575000

Rehab Budget

$0

Exit Value (ARV)

$575000

LOan Details

Total Loan Amount

$563500

Interest Rate (Annualized)

14%

Loan Type

Rehab

Loan Exit

Sell Property

Funding Date

11/30/2022

Loan Length (Months)

6

Loan-To-Value (LTV) or Loan-To-Cost (LTC)

60%

Loan-To-After Repair Value (LTARV)

58%

Borrower Details

# of Similar Completed Project in Past 3 Years

10+

Primary Guarantor FICO Score

700

Borrower Bio & Background

The borrower is a very experienced residential developer that has recently completed and sold two spec homes at The Club At Ravenna in Littleton, Colorado. The loan is a short-term bridge loan on as-of-right land needed to purchase 1 of 7 total lots. The bridge loans on the individual lots will be refinanced upon approval of the architectural renderings by the end buyer, at which time a non-refundable deposit of approx. $1M will be received. Aloha will be one of several lenders providing terms on the refinance loan that will include the budget to build the home.

Property Image

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