Finance

The Economics Group of Wells Fargo Bank has released a new report on construction spending. Construction activity this year has been largely resilient to broader macroeconomic headwinds. Total outlays increased 0.5% in August, solidifying an eight-month streak of improvements in 2023 and amounting to a 7.4% year-over-year gain. Yet as …

JLL Capital Markets recently arranged a 55% LTC construction loan and advised on the joint-venture equity placement for Kairoi Metro Center, a 419-unit Aurora apartment community. JLL represented the borrower, Kairoi Residential — a premier, vertically integrated, multifamily investment, development, and property management company — to secure the six-year, floating-rate …

By Dan McKirgan and Derek Coe, senior managers with Wells Fargo Equipment Finance As demand for construction in the Denver area soars, costs for resources and labor are doing the same. This recent squeeze has increased pressure on construction companies who typically enlist contractors in their bidding process for infrastructure …

KeyBank Community Development Lending and Investment (CDLI) recently provided $117.7 million of financing to Brinshore Development and Mile High Development, leading developers of affordable multifamily communities, for the construction of two properties in Colorado. CDLI provided $56.9 million of financing to fund the new construction of Ralston Gardens Apartments, a …

B:Side Capital, a mission-based nonprofit small business lender, has awarded Collegiate Peaks Bank with the Emerging 504 Bank Award, highlighting its dedication and partnership in Small Business Administration (SBA) lending. Every year, B:Side Capital recognizes its partner lending institutions that have gone above and beyond to support the small business …

JLL Capital Markets recently arranged a $66 million refinancing for 1400 Wewatta and 1401 Wynkoop, two interconnected, Class A office towers in Denver’s LoDo submarket.  JLL represented the borrower and operator, Crestone Partners, respectively, to secure the five-year, fixed-rate loan through an international correspondent life insurance company.  1400 Wewatta and 1401 …

Cushman & Wakefield recently served as the exclusive advisor to Barings, one of the world’s largest diversified real estate investment managers, in the procurement of $65.4 million in financing for Promenade Place, a 387-unit, mid-rise multifamily property in Greenwood Village. Barings advises the domestic pension fund that owns the property …

Colorado Preservation, Inc. (CPI) received an award from the National Park Service’s Paul Bruhn Historic Revitalization Grant to develop a subgrant program to support and stimulate historic preservation projects in Colorado’s rural historic downtowns (defined as a 2020 census population of 50,000 or less). Grant applications are now being accepted …

Colorado-based Fairway Apartments, LLC has received $55.99 million in permanent construction financing for the development of The Granary, a garden-style multifamily property in Fort Collins. “We are excited to commence the construction of The Granary,” said Ryan Will, principal of Keystone Real Estate, which is developing the Granary in a …

Bellwether Enterprise Real Estate Capital LLC (BWE), a national commercial and multifamily mortgage banking company, recently closed on $43,135,000 in construction financing for 15 Sable Apartments, an affordable housing community in Aurora. Anthea Martin, senior vice president in BWE’s Denver office, originated the loan through a private placement on behalf …