Kennedy Wilson Secures $61.75M Loan For MultiFamily Asset In Aurora Colorado

The asset involved in the transaction is a multi-family property located at 22959 East Smoky Hill Road in Aurora, CO, consisting of 320 units. The acquisition loan for this property amounted to $61,750,000. The loan is structured as a five-year, fixed-rate agency loan with a 0.96% spread and a 65% loan-to-value ratio. Additionally, it features a 35-year amortization schedule with flexible prepayment options available at 1% in the final year.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $61,750,000
• Loan Type: Acquisition
• Loan Terms: Five-year, fixed-rate agency loan
• Spread: 0.96%
• Loan-to-value ratio: 65%
• Amortization schedule: 35 years
• Flexible prepayment: Open at 1% in the final year
• Landlord: Kennedy Wilson
• Brokers: Brandon Smith, Annie Rice & Mark Wintner - JLL

JLL Capital Markets was responsible for securing the financing for Fletcher Southlands on behalf of Kennedy Wilson. The financing aligns with a value-add strategy in a high-income submarket, enhancing the asset's potential and supporting its future investments.