CO Mixed-Use Lands $66M
Natixis provided a $50 million construction loan and arranged a $16.2 million preferred equity position for Westminster Town Square, a 255-unit, Class A multifamily project in Westminster, Colo.
By IvyLee Rosario
Westminster Town Square rendering
Sherman Associates has secured $66.2 million construction financing for the development of Westminster Town Square, located in Westminster, Colo. Natixis provided a $50 million construction loan and arranged a $16.2 million preferred equity position for the project.
Part of the larger 105-acre Downtown Westminster Master Plan mixed-use redevelopment of the former Westminster Mall, Westminster Town Square will feature 255 units, as well as 24,770 square feet of ground floor commercial space, 2,148 square feet of outdoor seating for restaurant spaces and 386 parking spaces. The five-story building will be designed to achieve LEED Silver certification. Community amenities will include:
- rooftop area
- resort style pool
- spa
- clubhouse
- fitness center
- car wash
- pet grooming station
- bike repair
- golf simulator room
“Natixis is targeting markets such as Denver, with strong demographic trends, positive employment growth and favorable business climates,” said Greg Murphy, head of Real Estate Finance for the Americas at Natixis.
Westminster is located 10 miles from Denver and 15 miles from Boulder.
Rendering courtesy of Natixis
