We are pleased to announce that Archway Fund has financed a $5,000,000 acquisition loan secured by two multi-family properties located in the Congress Park sub-market of downtown Denver. The properties combined total 47,349 SF with 50-units. Sponsor was under contract to purchase both properties off-market and needed to close quickly in order to execute on their PSA. Sponsor is an experienced real estate investor who saw this as a value-add opportunity with plans of increasing rents by 20% on day one. Exit is a traditional refi once property is stabilized.
Why Archway Fund? Archway Fund was able to close quick with no appraisal required, minimal 3rd party reporting, and gave borrower a certainty of close.
Loan Details: $5M loan, 18-months, 45% LTV