Retail

Loan Highlights

  • Location: Colorado Springs, CO
  • Product Type: Retail
  • Loan Amount: $19,625,000

Description

Retail

Revere Capital funded a $19,625,000 loan secured by a 360,000 sf retail property in Colorado Springs, CO. The loan was used by the sponsor to purchase its debt at a discount from a mortgage REIT who needed liquidity. The loan also provided a reserve account for future leasing costs.

  • Loan was under application with another lender who was unable to fund due to COVID-19 related financing issues. Fortunately, Revere is well-capitalized and was able to close quickly with a creative structure that maximized proceeds
  • Revere was able to close this loan in under 15 business days
Cheyanne HarringtonApril 27, 20200 comments