Updated Dec 4, 2024
Lument Arranges $27M Construction Loan For Mesa Verde Estates, Durango
380 Crader James Ranch Road, Durango
$27,000,000
Units
124
Asset Type
Development Site
Closing
Feb 26, 2024
About this deal
AI
The development site located at 380 Crader James Ranch Road in Durango, CO, was the subject of a $27 million construction loan facilitated by Lument. The loan was obtained by Mission Senior Living for the construction of Mesa Verde Estates, a 124-unit assisted living and memory care community.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $27,000,000
- Units: 124
- Address: 380 Crader James Ranch Road
- Market: Durango, CO
- Brokers: Rob McAdams, Sangjin Na & Steve McGee - Lument
The $27 million debt placement for Mission Senior Living was crucial in the development of Mesa Verde Estates, a community designed to offer assisted living and memory care services in Durango. Rob McAdams, Sangjin Na, and Steve McGee from Lument played a key role in securing the construction loan for this development project.
On the Map
$27,000,000
Development Site
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Players
Durango Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93