Seagate Goes for Outlook Clear Creek in a Big Way

Seagate Properties recently acquired a newly constructed multifamily property, Outlook Clear Creek, for an undisclosed sum from Evergreen Development, according to CBRE. Seagate Colorado Partners LLC obtained $84 million in financing for the 310-unit multifamily property in Wheat Ridge, CO.  

CBRE secured a seven-year fixed rate loan with full-term interest only through a life company. CBRE’s Brady O’Donnell and Jill Haug represented Seagate Properties in the financing.

“Outlook Clear Creek is an exceptional property, representing some of the only new multifamily construction in the supply-constrained west Denver market. We were able to secure an optimal financing solution by facilitating a relationship between our client and a lender who offered a stabilized loan execution prior to full stabilization at the property,” said O’Donnell.

Located at 4040 Clear Creek Dr., Outlook Clear Creek is an elevator-served community comprised of 10 mid-rise buildings on approximately 12.5 acres. Unit sizes average 893 square feet and include one- and two-bedroom floorplans. Amenities include a mountain-side pool and hot tub, a poolside outdoor theater, a co-working lounge and electric car charging stations. Completed in March 2021, the property leased up quickly and was nearly fully leased at the time of financing execution.