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$20M Construction Loan Secured for Denver Condo Development
Knighthead Funding, LLC provided Denver, CO-based Alpine Investments with a $20 million construction loan for Edge LoHi, the first new condominium development in Denver’s Lower Highland’s (LoHi) submarket in nearly a decade. When completed in 2019, the project will feature 44 luxury one, two and three-bedroom units, and 4,200 square feet of street-level retail.
“LoHi has benefited from thoughtful growth over the past decade, and has become an attractive option for those who want a neighborhood feel in Downtown Denver,” said Alpine Investments’ Churchill Bunn. “Its walkability, combined with an attractive balance of retail and residential, appeals to both empty nesters and millennials, and Edge LoHi was designed to appeal to both demographics.”
The project was roughly 35% pre-sold at the close of financing, reflecting the high demand for condo units in LoHi.
Knighthead’s Jonathan Daniel and Henry Boeckmann led the origination team.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development
