Prime West JV Lands $73M for Colorado Project
The development is scheduled to come online in 2026.
A joint venture between Prime West and Columnar Investments has obtained $73 million in construction financing for Traer Creek Apartments, a 242-unit podium multifamily project in Avon, Colo. JLL Capital Markets secured the loan from Bank OZK.
The development is part of The Village at Avon, an 1,800-acre, entitled mixed-use project that includes retail, housing, community infrastructure and open space.
Scheduled to come online in 2026, the Class A community will rise on 10 acres and is set to consist of three four-story buildings. The unit mix will feature studio, one-, two- and three-bedroom layouts.
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Common-area amenities will include a fitness center and an outdoor spa. Additionally, the community will have 9,200 square feet of communal facilities and open green areas.
Traer Creek Apartments will take shape at 5471 E. Beaver Creek Blvd., next to Interstate 70 and the Traer Creek Plaza shopping mall. Downtown Avon is less than 2 miles away.
JLL Capital Market’s Debt Advisory team representing the borrower included Senior Managing Director Leon McBroom and Director Will Haass.
Prime West’s current development portfolio consists of five communities. Earlier this year, the company completed Claro at High Point, a 365-unit multifamily property in Aurora, Colo., using funds from a $54.9 million construction loan originated by Truist Bank, Yardi Matrix information shows.
