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Crow Holdings Secures $52 Million Refinance Loan For 256-Unit Canyon Reserve In Westminster CO
FINANCED
$52,000,000
Colorado
See Similar DealsMultiFamily
Financed 08/05/2025
FINANCED
Crow Holdings Secures $52 Million Refinance Loan For 256-Unit Canyon Reserve In Westminster CO
2890 West 116th Place
See Similar DealsMultiFamily
Financed 08/05/2025
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in this transaction is the Canyon Reserve at the Ranch, a 256-unit multifamily complex located at 2890 West 116th Place in Westminster, CO. The property was built in 1984 and was recently upgraded. It is strategically positioned in a market characterized by limited new housing supply and was acquired for $93.5 million in 2022.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $52,000,000
- Lender: Brian Hirsh - Mesa West Capital
- Landlord: Crow Holdings
- Loan Type: Refinance
The refinancing deal involves Crow Holdings Capital, which obtained the loan from Mesa West Capital. This transaction highlights the proactive steps taken by Crow Holdings to enhance their multifamily asset through financial restructuring, amidst Westminster's restrictive housing development landscape.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$52,000,000.00
Monthly NOI$346,666.67
Monthly Debt Service$328,675.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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