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Property Markets Group Secures $107.5M Loan From Maxim Capital Group For Waldorf Astoria Residences

Property Image
FINANCED
$107,500,000
Jason Bordenick

Colorado

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Condo
Financed
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FINANCED

Property Markets Group Secures $107.5M Loan From Maxim Capital Group For Waldorf Astoria Residences

Steele Street

See Similar Deals
Condo
Financed
Jason Bordenick
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Summary

COLORADO
Asset Type:Condo
Transaction Type:Loan

The asset involved in this transaction is a condo development located at 185 North Steele Street in Denver, CO. The development consists of 37 units and is known as the Waldorf Astoria Residences Denver Cherry Creek, with condos starting at a price of $1.2 million. The total loan amount for construction financing is $107,500,000.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $107,500,000
  • Units: 37
  • Lender: Jason Bordenick - Maxim Capital Group
  • Landlord: Andrew Warman, Jonathan Blank & Paton Marion - Property Markets Group
  • Loan Type: Construction

This financing was arranged by Property Markets Group from Maxim Capital Group to facilitate the development of the 37-unit project. The lender, Jason Bordenick, played a key role in providing the construction loan. The landlords, Andrew Warman, Jonathan Blank, and Paton Marion, are associated with Property Markets Group in this endeavor.

Players

Jason Bordenick
11 deals$388.2M volume
LENDER

Maxim Capital Group
LENDER

Andrew Warman
Property Markets Group
6 deals$1.1B volume
LANDLORD



Details

FINANCED
IMAGE: 08/18/2025 ADDRESS: 185 North Steele Street MARKET: Denver, CO ASSET TYPE: Condo ~ UNITS: 37 LENDER: Jason Bordenick - Maxim Capital Group LANDLORD: Andrew Warman, Jonathan Blank & Paton Marion - Property Markets Group LOAN AMOUNT: $107,500,000 LOAN TYPE: Construction NOTE: Property Markets Group secured $107.5M in construction financing from Maxim Capital Group to build the 37-unit Waldorf Astoria Residences Denver Cherry Creek, with condos starting at $1.2M.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$107,500,000.00

Monthly NOI$716,666.67
Monthly Debt Service$679,473.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00