JLL Capital Markets announced it arranged a $61 million refinancing for the FalconView Apartments, a Class A, garden-style multihousing property in Colorado Springs, Colorado.
JLL worked on behalf of the borrower, Etkin Johnson Real Estate Partners, to secure the 10-year fixed-rate permanent financing through MetLife Investment Management.
Built in 2020, the FalconView Apartments consist of 288 one-, two- and three-bedroom units across 16 three-story buildings. Units include open, airy floorplans averaging 987 square feet with lots of sunlight, 9” ceilings, stainless steel appliances, high-end finishes, and attached single-car garages for select units. Community amenities include a dog park, grilling area, garden, fitness center with yoga studio, pool and sun deck with views of the Pikes Peak mountains, generous. The property is also One Green Globes Certified.
Located at 10691 Cadence Pt. less than a mile from Interstate 25 in North Colorado Springs, the property is proximate to 3.3 million square feet of office and 695,000 square feet of retail space within a two-mile radius. Colorado Springs is one of the most affluent and fastest growing areas in Colorado, with major private employers marking it home. The property is also situated off Federal Dr. and Cadence Pt., offering direct access to the entire city’s metropolitan area, including a 15-minute drive to Downtown Colorado Springs, and just an hour drive from Denver.
“FalconView was designed to meet the growing demands of young professionals and families living and working along the I-25 corridor,” said Derek Conn, Executive Vice President and Partner at Etkin Johnson. “We assembled a best-in-class to team to develop and manage this project. The tremendous performance of the lease-up and subsequent financing is a testament to the quality of the community.”
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler and Senior Director Brock Yaffe.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge deliver best-in-class solutions for clients—whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.