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242 Milwaukee Street

BMC Investments Secures $53 Million Loan From FirstBank For Denver Development Site
FINANCEDDevelopment Site

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

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.

Players

Eric Norris

Walker & Dunlop

Broker

$239.1M

vol

5 deals

Broker
Walker & Dunlop
Walker & DunlopBrokerage
FirstBank
FirstBankLender
BMC Investments
BMC InvestmentsLandlord

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