CBRE Capital Markets’ Debt & Structured Finance has secured $84 million in financing on behalf of Seagate Colorado Partners, LLC, for Outlook Clear Creek, a 310-unit multifamily property in Wheat Ridge, Colo. Seagate Properties acquired the newly constructed property for an undisclosed sum from Evergreen Development. CBRE secured a seven-year fixed rate loan with full term interest only through a life company.
CBRE’s Brady O’Donnell and Jill Haug represented Seagate Properties in the financing.
“Outlook Clear Creek is an exceptional property, representing some of the only new multifamily construction in the supply-constrained west Denver market. We were able to secure an optimal financing solution by facilitating a relationship between our client and a lender who offered a stabilized loan execution prior to full stabilization at the property,” said Mr. O’Donnell, vice chairman, CBRE.
Located at 4040 Clear Creek Drive, Outlook Clear Creek is an elevator-served apartment community comprised of 10 mid-rise buildings on approximately 12.5 acres. Unit sizes average 893 sq. ft. and include one- and two-bedroom floorplans. Amenities include a mountain-side pool and hot tub, a fitness facility, a poolside outdoor theater, a co-working lounge, a lighted dog park and electric car charging stations. Completed in March 2021, the property leased up quickly and was nearly fully leased at the time of financing execution.
Outlook Clear Creek is located within the master-planned Clear Creek Crossing mixed-use development, southwest of the Highway 58 and Interstate 70 intersection. It is near several large regional employers and is adjacent to the future SCL Health Lutheran Medical Center, slated to bring 2,000 jobs to the area.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
