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JLL Secures $66M Construction Financing For CO MF
More than $66 million in construction financing has been secured for Ascent Apartments, a planned multifamily community within a new mixed-use development in downtown Westminster, CO, 10 miles northwest of downtown Denver. The financing, arranged on behalf of the developer, Minneapolis-based Sherman Associates, includes a $50-million senior loan and $16.2-million in preferred equity from Everwest Real Estate Partners.
Set to be completed by late 2018, Ascent Apartments is planned to include 255 units, 25,000 square feet of ground floor retail, a fitness center, dog wash area, game room and two separate outdoor amenity decks that feature swimming pools, hot tubs and grilling areas. Downtown Westminster is a 105-acre site that is currently being developed with more than 2,000 residential units, two million square feet of office space, 750,000 square feet of retail and a 300-room hotel.
JLL’s Baxter Fain and Ken Dayton led the team on the financing.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development

