Refinancing Secured for Luxury Colorado Property

The Epoque Golden. Image courtesy of JLL

Forum Real Estate Group, LLC has lined up a $31.16 million refinancing for a luxury community in Golden, Colo. The five-year, fixed-rate Freddie Mac Multifamily loan will go towards the Epoque Golden.

The funding is in the form of a cash-out refinancing loan with full-term interest only and prepay flexibility in the last two years.

Epoque Golden, a Class A community, is four stories tall and includes 120 units. Homes range from studio, one-, two- and three-bedroom layouts with open-concept floor plans.

Situated at 1175 Newstar Way in the Denver metropolitan area, the Epoque Golden apartments are 85.8 percent occupied, according to Yardi Matrix data. They range from 590 square feet to 1,657 square feet.

Completed in 2019, apartments feature washers and dryers, private balconies and walk-in closets. Community amenities include a pool, a speakeasy, a private dining room, a coworking space, an outdoor yoga deck and an electric vehicle charging station.

Residents of the Epoque Golden are in close proximity to Highways 93 and 6, providing access to Denver and nearby ski towns. Within walking distance is some 24 miles of hiking and biking trails. Downtown Denver and downtown Boulder are each some 30 minutes away with entertainment, dining, retail and shopping options.

JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender, is servicing the loan. Senior Managing Director Eric Tupler and Managing Director Tony Nargi with JLL Capital Markets worked on behalf of Forum in the deal.

Denver is booming

The Denver metropolitan area is one of our nation’s top 10 areas for new unit construction. The multifamily market saw strong performance last year including sustained rent growth, many investment deals and strong construction starts. Despite lots of new supply hitting the market, demand continues to remain high in the area.

Another luxury community nearby the Epoque Golden recently secured $24.3 million in construction financing. Also arranged through JLL, the funds will go towards the development of a 124-unit property in Denver’s Highlands neighborhood.