Updated Oct 30, 2025
BMC Investments Secures $53 Million Loan From FirstBank For Denver Development Site
242 Milwaukee Street
$53,000,000
$563/SF
Building Size
94,000 SF
Asset Type
Development Site
Closing
Oct 29, 2025
About this deal
AI
The asset involved in the transaction is a development site located at 242 Milwaukee Street, Denver, CO. The total square footage of the site is 94,000. The transaction includes a construction loan amounting to $53,000,000 to refinance a planned Class A office and retail project, Milwaukee Place, being developed by BMC Investments.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $53,000,000
- Address: 242 Milwaukee Street
- Market: Denver, CO
- Asset Size: 94,000 sf
- Lender: FirstBank
- Landlord: BMC Investments
- Brokers: Justin Nelson, Eric Norris & PJ Feichtmeier - Walker & Dunlop
- Loan Type: Construction
- Scheduled Completion: Q1 2027
The transaction was facilitated by Walker & Dunlop, who arranged the construction loan from FirstBank for BMC Investments. The project is located in Denver’s Cherry Creek neighborhood and aims to enhance the local commercial landscape.
On the Map
$53,000,000
$563/SF
Development Site
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Players
Denver Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93