Hines & MBK Rental Living Secure $58.7M Construction Loan For Retreat At Mountainside In Colorado Springs

The Retreat at Mountainside, a 9.7-acre development site located at 9570 Grand Cordera Parkway in Colorado Springs, CO, will soon be transformed into a luxury community. Jeffrey C. Hines of Hines and Ken McCarren of MBK Rental Living have secured a $58.7 million loan from First National Bank of Omaha to fund the construction of this new 284-unit residential complex. The project is expected to be completed by 2025.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $58,700,000
• Address: 9570 Grand Cordera Parkway
• Market: Colorado Springs, CO
• Landlord: Jeffrey C. Hines - Hines & Ken McCarren - MBK Rental Living
• Lender: First National Bank of Omaha
• Brokers: Jill Haug, Alex Scott & Brady O’Donnell - CBRE

The loan from First National Bank of Omaha was facilitated by a CBRE team led by brokers Jill Haug, Alex Scott, and Brady O’Donnell. The Retreat at Mountainside aims to provide residents with a luxurious lifestyle in the thriving city of Colorado Springs.