Claro at High Point Locks in JV Equity and Construction Financing of $90M

Combined joint venture equity and construction financing of $90.4 million was recently arranged for Claro at High Point, a 365-unit class-A garden-style multifamily development in an Opportunity Zone within the Denver suburb of Aurora. At the northeast corner of 65th Avenue and Lisbon Street, Claro at High Point is in the High Point live-work-play master-planned community.

Adding to its highway connectivity is a commuter rail station with a direct connection to both the airport and Union Station via the A-line, along with connection to the R-line.

JLL worked on behalf of the developer, Prime West, to arrange opportunity zone joint venture equity through Bridge Investment Group Holdings, along with securing construction financing from a national bank. The JLL debit team representing the developer was led by Leon McBroom, Mark Erland and Will Haass.

“Claro at High Point will provide attainable housing options for the airport submarket, which is among the fastest-growing job centers in the state,” says McBroom. “The development’s location within an Opportunity Zone coupled with its low garden basis fueled a competitive capital raise.”

Once completed in summer 2023, Claro at High Point will have one-, two- and three-bedroom units averaging 908 square feet. RATIO Architects will serve as the project’s architect and Catamount Constructors Inc. will perform general contractor services.