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New Construction Portfolio – Grand Junction, CO

A builder working on a large townhome development needed funding for the next four-plex building. Lima One’s new construction loan provided the solution.

By the Numbers:

$1,069,354

Loan Amount

$958,064

Construction Budget

85%

Blended Loan to Cost Leverage

$1.62M

After-Repair Value

66%

Loan to After-Repair Value Leverage

4

Townhomes

The Opportunity

A builder in Grand Junction, Colorado (the largest city in Western Colorado, not far from the Utah border) was working on a large townhome development. After completing one four-townhome building, he needed financing for the next building in the development.

Based on his quality experience with Lima One’s team on the previous loan, he inquired about financing for the next property.

The Solution

Lima One offered the builder an 18-month construction loan at 85% blended loan to cost leverage, including 100% of construction costs covered. Once again, the builder gets in-house construction draw service from Lima One’s in-house team, to ensure fast draws that keep the project moving.

Lima One continues to work with the builder to understand his broader business goals, so that we can support his continued growth. By building a long-term partnership, Lima One can help this builder continue to execute his strategy in this townhome development and beyond.