MCA Arranges $6M Loan for Denver Community
The project is an integral part of Belle Creek community, which consists of single family housing, apartments, townhomes and a community center. MCA worked on behalf of an entity sponsored by Chartered Development Corp.
By Adina Marcut
Belle Creek
Metropolitan Capital Advisors Ltd., on behalf of an entity sponsored by Chartered Development Corp., arranged a $6 million permanent loan for Belle Creek Apartments & Townhomes located in suburban Denver. Senior Director & Principal of MCA’s Denver office Charley Babb and Senior Associate Tiffiany Mullins placed the permanent loan with a Fannie Mae DUS lender.
Upon completion, Belle Creek Apartments & Townhomes will consist of 177 units and will complete the actual development, Belle Creek community, which includes single family housing, apartments, townhomes and a community center.
Located at 10754 Belle Creek Blvd., the Belle Creek property encompasses live-work one-, two- and three-bedroom units averaging 756 square feet. The three-story building includes amenities such as a playground and a total of 500 parking spaces. According to Yardi Matrix, the property was 96.7 percent occupied as of April.
In April, Metropolitan Capital Advisors secured a $9.6 million construction loan for Destination Residences, a 62-unit project in The Cedars neighborhood.
Image courtesy of Yardi Matrix
