A joint venture between Oak Coast Properties and BMC Investments has successfully closed a loan of US$46.25 million, according to information from Commercial Observer. This serves to refinance a multifamily property in the suburban area of Denver, Colorado. Prime Finance provided the floating-rate loan for the Aspen Park property, which comprises 388 residential units and is located in Northglenn, Colorado.
Walker & Dunlop arranged the transaction with a comprehensive team of capital markets specialists. This team consisted of Dustin Stolly, Justin Nelson, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Ianno, Eric Norris, and Jason Schwartzberg. The expertise of these professionals was crucial for the successful completion of the refinancing.
Strategic location and attractive amenities
Dustin Stolly, Senior Managing Director for Capital Markets Institutional Advisory at Walker & Dunlop, highlighted the strategic positioning of the property. He stated that Aspen Park is well-located in one of the most connected suburbs of Greater Denver, with excellent access to employment opportunities, transport links, and everyday amenities. These factors significantly contribute to the property's appeal to tenants and secure its long-term value development.
Aspen Park is situated at 301 East Malley Drive, approximately 12 miles north of Downtown Denver. The residential complex offers one, two, and three-bedroom garden apartments. The community's amenities are diverse and include a clubhouse, a fitness centre, and an indoor swimming pool, among others.
Diverse community facilities
In addition to the aforementioned amenities, residents of Aspen Park have access to further facilities that make living more comfortable. These include a fully equipped business centre, ideal for residents working or studying from home, and a games room, which offers entertainment for all ages. These comprehensive community offerings further contribute to the high quality of life and make the property an attractive option in the multifamily segment.
- —Clubhouse available for private events and gatherings.
- —Modern fitness centre with diverse training options.
- —Heated indoor swimming pool for year-round swimming opportunities.
- —Business centre for professional and academic requirements.
