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Financing Boosts Development of Englewood Multifamily Complex
Construction financing of $24.9 million was recently arranged for the development of a 119-unit class-A mid-rise apartment complex in the south Denver community of Englewood, CO. Scheduled for completion in spring 2023, the six-story multi-housing property will offer a six-story parking garage with electric car charging stations, work-from-home options, an indoor/outdoor rooftop lounge and patio, and a fitness center.
Situated along East Hampden Avenue, the federally designated Opportunity Zone is one block from US 285, one of Englewood’s primary thoroughfares, along with access to Interstates 25 and 70 and US-85. The property is surrounded by several of Englewood’s top employers including Swedish Hospital and Craig Hospital.
JLL worked on behalf of the developer, Alpine Investments, to secure a 30-month floating-rate non-recourse construction loan through a national bank. The JLL team representing the borrower was led by Leon McBroom and Kevin Barron.
- ◦Development
- ◦Financing
