JLL Capital Markets announced that it has secured construction financing for The Hunter, a 214-unit, Class A multihousing project located in Colorado Springs’ New South End neighborhood, one of the area’s fastest growing submarkets.
JLL worked on behalf of the borrower, a joint venture between Formativ and Argosy Real Estate Partners.
The seven-story development will be complete in late 2024. The studio, one- and two-bedroom units will feature modern interiors, full kitchens and in-unit washers and dryers. Common amenities will include a two-story tenant lounge with mountain views, golf simulator, pool and hot tub, fitness center, ample coworking space, bike storage, a year-round amenity deck, dog wash, above grade parking garage and more.
The Hunter will be situated at 225 E Cimarron St. within an Opportunity Zone. The property is just minutes from downtown Colorado Springs and proximate to I-25, as well as walkable to Tejon Streets’ acclaimed food and drink establishments and the recently built Weidner Field. Within a five-mile drive of the property is 14 million square feet of office space and 20 million square feet of retail space, demonstrating the area’s continued development.
The JLL Capital Markets Debt Advisory team was led by Director Rob Bova.
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 delivers the best-in-class solutions for clients—whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
