Construction financing to the tune of $71 million was recently arranged on behalf of Charlotte-based Grubb Properties for the development of Link Fitzsimons Apartments. The 405-unit multifamily property is to be located in Aurora, CO.
CBRE’s Nate Sittema, Kristen Reilley, Grant Harris and Elliott Voreis represented Grubb Properties in the financing.
“The development is an ideal candidate for the implementation of Grubb’s trademarked Link apartments model, with a focus on developing a high efficiency amenity-driven property in the highly desirable growing infill Aurora location,” said Sittema. “This Colorado asset will mark the first move west for Grubb Properties and an instrumental step in their expansion nationally.”
The community will be largely tailored to smaller average unit sizes, a design model that has resonated very well on the East Coast and is expected to be positively received in this Colorado location. The development, located in an Opportunity Zone, presented a long-term hold for Grubb’s OZ Fund and was a good fit for the 12-year construction to permanent loan provided by AIG. The asset will be a class-A five-story apartment building wrapped around a 472-space parking deck.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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