MCA Arranges $6M Loan for Denver Community
- Jun 07, 2017
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