Luxury Denver-Area Community Lands $119M
HFF arranged the five-year, floating-rate loan to replace the existing construction financing for The Forum Fitzsimons, a 397-unit mixed-use property in Aurora.
The Forum Fitzsimons aerial
A joint venture of Catalina Development Co., The Pollin Group and Sightway Capital has secured $118.5 million in financing for The Forum Fitzsimons, a mixed-use community in Aurora, Colo.
HFF arranged the five-year, floating-rate loan through a specialty finance company. Proceeds will be used to replace the existing construction financing, which HFF also arranged in 2015.
“This refinance allowed the borrower to accomplish their goals with the asset while also reducing their existing cost of capital,” Josh Simon, managing director at HFF, told Multi-Housing News.
Luxury TOD
Located at 13650 E. Colfax Ave., the four-story property was constructed in a wrap-style and features 397 luxury apartments, 28,640 square feet of first-floor retail space and 15,000 square feet of amenities. Floorplans are offered in studio, one- and two-bedrooms, ranging from 568 to 1,277 square feet. Interior features include 10- and 12-foot ceilings, hardwood-style floors, granite countertops, glass mosaic tile backsplashes, chrome fixtures, in-suite washer/dryers and track and pendant lighting, as well as stainless steel appliances, balconies, built-in computer desks and island kitchens in select units. Residents have access to luxury amenities that include:
- two resort-style swimming pools and spas
- courtyard lounges with fireside seating
- state-of-the-art fitness center
- yoga and cycling rooms with interactive trainers
- three event clubrooms
- 24-hour business center and conference room
- bike repair shop and storage
- theater and game room
- dog washing facility and two bark parks
- six-story gated parking
- ground level shopping and dining from 11 retailers
The Forum Fitzsimons offers convenient access to the RTD light rail station, the Anschutz Medical Campus, biking and hiking trails and nearby restaurants including Caribou Coffee, Noodles & Co., Smashburger, Panera Bread and Chipotle.
Simon, along with Senior Director Chris McColpin, represented the borrowers. Also this month, HFF secured a $20 million construction loan for Edge LoHi, a 44-unit luxury condo development in Denver.
Image courtesy of GoFlight5280.com
