Finance   ·   Refinance

Prime Finance Refis Denver-Area Apartments With $46M Loan

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A joint venture between Oak Coast Properties and BMC Investments has sealed a $46.25 million loan to refinance a multifamily asset in suburban Denver, Commercial Observer has learned

Prime Finance supplied the floating-rate loan on the 388-unit Aspen Park property in Northglenn, Colo.

SEE ALSO: Azorim Secures $69M Construction Loan for Yonkers Development

Walker & Dunlop arranged the transaction with a capital markets team consisting of Dustin Stolly, Justin Nelson, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Ianno, Eric Norris and Jason Schwartzberg

“Aspen Park is well positioned in one of metro Denver’s most connected suburban communities, with strong access to employment, transportation, and everyday amenities,” Stolly, senior managing director of capital markets institutional advisory at Walker & Dunlop, said in a statement. 

Located at 301 East Malley Drive 12 miles north of Downtown Denver, Aspen Park features one-, two- and three-bedroom garden-style apartments. Community amenities include a clubhouse, a fitness center, an indoor pool, a business center and a game room.

Oak Coast Properties, BMC Investments and Prime Finance did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com