Lender Expresses Confidence in New Denver Projects
An $88.7 million construction loan went to an affiliate of Cypress Real Estate Advisors (CREA) for the development of a 336-unit multifamily community at 2600 Wewatta Way in Denver’s Denargo Market neighborhood. Pacific Western Bank’s Denver commercial real estate team provided the loan, which represents the third financing between Pacific Western Bank and CREA.
“Although Pacific Western Bank is new to the Denver market, we are proud to have forged strong relationships in such a short time. We’re confident in the projects that Cypress and other like-minded developers and investors are launching throughout Denver and the Rocky Mountain Region,” said Chris Erickson, EVP, regional manager for Pacific Western Bank’s Colorado Real Estate Group.
The property is located on the southern edge of the River North (RiNo) entertainment district in the Ballpark neighborhood on the northern periphery of Lower Downtown (LoDo) and Union Station.
- ◦Development
- ◦Financing