CO Springs’ FalconView Gets $61M Refi Through MetLife
Colorado Springs is one of the most affluent and fastest growing areas in the state, with large private employers calling it home. A multifamily garden-style property built last year, FalconView Apartments, consists of 288 one-, two- and three-bedroom units across 16 three-story buildings.
“FalconView was designed to meet the growing demands of young professionals and families living and working along the I-25 corridor,” said Derek Conn, executive vice president and partner at Etkin Johnson.
The property recently received $61 million in refinancing. JLL worked on behalf of the borrower, Etkin Johnson Real Estate Partners, to secure the 10-year fixed-rate permanent financing through MetLife Investment Management. The JLL team representing the borrower was led by Eric Tupler and Brock Yaffe.
The floorplans average 987 square feet, and include 9-foot ceilings and attached single-car garages for select units. The property is also One Green Globes Certified.
Located at 10691 Cadence Pt. less than a mile from Interstate 25 in North Colorado Springs, the property is near 3.3 million square feet of office and 695,000 square feet of retail space within a 2-mile radius. The property is also situated off Federal Drive and Cadence Point, an hour drive from Denver.