Project Description

Mixed-Use/Commercial – Denver, CO

  • Status: Performing
  • Position: First Lien
  • Loan Type: Acquisition
  • Current Loan Balance: $1,587,061
  • Fully Committed Loan Amount: $1,690,000
  • Appraised Value: $2,600,000
  • Loan to Value Ratio: 65.0%
  • Current Interest Rate: 9.00%
  • Interest Rate Index: WSJP + 4.25%
  • Interest Rate Floor: 9.00%
  • Origination Date: December 13, 2019
  • Maturity Date: July 1, 2021
  • Term: 18 months
  • % of Portfolio: 2.0%

This 11,056 square-foot commercial building is located in downtown Denver, roughly four blocks from Coors Field. The borrower purchased the property for $2,600,000, with the plan to complete renovations and operate it as a boutique hotel.