Silver Arch Capital Partners Closes $19.3 Million Loan In Colorado Springs, Colorado
Land Loan to be used for Phase 1 of 310-acre master planned community
HACKENSACK, N.J., Sept. 12, 2017 /PRNewswire/ -- Taking a 309.21-acre tract of vacant land in Colorado and turning it into a master planned community is no small task. That didn't deter SR Land LLC, SPF Investors LLC, and Morley-Bentley Investments LLC from moving forward with their vision. Their only major obstacle was securing the needed funds to make it a reality.
Silver Arch Capital Partners LLC (www.silverarchcp.com), a large nationwide private lender, has announced the closing of a $19.3 million land loan to the Colorado-based investment and development company. The loan will be used for working capital to provide infrastructure and property improvements to the first phase of Sterling Ranch –a new home development in Colorado Springs, Colorado.
The 309.21-acre tract of residential property is located along the east side of Vollmer Road, two miles north of Woodmen Road, in Colorado Springs, El Paso County, Colorado about 15 miles northeast of the Colorado Springs central business district. The proposed development is tucked away in the far north-central area of Colorado Springs which encompasses large portions of the Northeast Submarket and the Powers Boulevard/Woodmen retail/office corridor. This area has undergone significant redevelopment over the past 15 years.
Lending on land, especially for horizontal development, is not common. Traditional lenders, such as banks, have strict limits on borrowing when it comes to land loans. The process of securing a bridge loan wasn't easy but in order to get this project from the planning stage to development, funding had to happen or the deal would falter. As a respected private lender who earned a reputation as one of the largest land loan lenders in the United States, Silver Arch Capital Partners has more flexibility in lending and is not impacted by the same regulations that conventional lenders encounter.
The private lending industry has emerged as a viable source of short-term money since the credit markets have tightened. According to a relatively recent report in the Bloomberg News, alternative lenders and lending funds enjoyed an uptick to a record $29.9 billion worldwide in 2014. The Mortgage Association reports that alternative lenders, including private lenders like Silver Arch Capital Partners, saw a 68% increase in lending activity in 2015.
Jeffrey Wolfer, CEO of Silver Arch Capital Partners, sees what these developers go through all the time. "People come to us with their dreams and visions and I'm not going to be the one who tells them that it can't become a reality. They'll often say to me, if only I had the working capital to move my idea forward. We work tirelessly to overcome obstacles and make the deal happen. And that's what Silver Arch Capital Partners is all about - turning borrowers' dreams into realities on the ground."
About Silver Arch Capital
Silver Arch Capital Partners is a leading nationwide private lender to the commercial real estate market, specializing in bridge loans to owners, investors and developers in need of funding outside the scope of traditional banks and lenders. Formed with the mission to assemble the most highly creative minds in the real estate lending under a single banner, the firm recognizes the importance of access to capital in turbulent times. Its partners, who have closed over $2 billion in loans, have the knowledge and insight to guide a borrower through the entire loan process, from initial review through closing. Drawing from various resources, Silver Arch Capital Partners offers loans from $1 million to $50 million with the flexibility and creativity to review projects of every type - multifamily, office, retail, industrial, hotel and land - and to offer funding for almost every purpose - restructurings, discounted payoffs, purchase of notes and property improvements.
SOURCE Silver Arch Capital Partners
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