ARRIBA CAPITAL CLOSES A $3,000,000 LOAN: KATY, TX

Arriba Capital (Arriba) successfully closed a $3,000,000 land acquisition loan on a 6.14-acre property located in Katy, TX. The proposed property will eventually be developed in to a 26,000 Sqft retail center on one parcel and the other parcel is still in the planning stages. The loan was leveraged to 55% Loan-to-cost, priced at 5%, with a 12-month interest only term. Arriba is in the process of securing the construction takeout loan.