BrokerageDevelopmentMultifamily

New Project: Bloom at Cherry Creek

$18.85 million in financing has been arranged for Bloom at Cherry Creek, a 111-unit, Class A mid-rise apartment property currently under construction in Cherry Creek. Due for completion in mid-2021, the five-story, podium-style property will total 70,733 rentable square feet across a mix of studio, one- and two-bedroom units.

The project is being constructed on a 1.11-acre site at 4700 E. Kentucky Avenue, which provides immediate access to recreation amenities, including the Cherry Creek Bike Path and Infinity Park, as well as nearby access to the Cherry Creek North shopping district. The GC is CFC Construction and OZ Architecture designed the building.

The JLL Capital Markets team representing the borrower, Botnick Realty, included Senior Directors Kristian Lichtenfels and Matt Steffen.

“We see Bloom at Cherry Creek as Botnick Realty’s next great opportunity to expand on our investment strategy in and around Denver, said Brian Botnick, managing member of Botnick Realty. “We are excited to grow our platform and continue building our team with a focus on providing quality residential communities.”

Unit finishes will include white Shaker cabinets, quartz countertops, stainless steel appliances, luxury flooring and in-unit washers and dryers. Community amenities will include a rooftop deck with firepit, grilling station, community kitchen, game room, fitness center and workstations.

Rendering courtesy of JLL

 

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