Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Denver Apartment Project Receives Development Funding
JLL Capital Markets arranged $18.85 million in financing for the development of Bloom at Cherry Creek, a 111-unit, Class A mid-rise apartment property currently under construction in Denver’s Cherry Creek submarket. JLL worked on behalf of the borrower, Botnick Realty, to secure the five-year, fixed-rate construction loan through a regional bank.
Bloom at Cherry Creek is being constructed on a 1.11-acre site at 4700 E. Kentucky Ave., which provides immediate access to recreation amenities. Due for completion in mid-2021, the five-story, podium-style property will total 70,733 rentable square feet across a mix of studio, one and two-bedroom units finished with white Shaker cabinets, quartz countertops, stainless steel appliances, luxury flooring and in-unit washers and dryers. Community amenities will include a rooftop deck with firepit, grilling station, community kitchen, game room, fitness center and workstations.
JLL’s Kristian Lichtenfels and Matt Steffen represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development
