Updated Oct 29, 2024
Trailbreak Partners Secures $24.26M Construction Loan For 124-Unit Multifamily In Denver
3245 Eliot Street, Denver, Colorado 80211, United States
$24,260,000
Units
124
Asset Type
MultiFamily
Closing
Jan 10, 2023
About this deal
AI
Trailbreak Partners has secured a construction loan worth $24,260,000 from FirstBank for a multifamily property located at 3245 N Eliot St in Denver, CO. The property consists of 124 units and is expected to undergo construction and development with the help of the loan. Rob Bova from JLL represented Trailbreak Partners in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,260,000
- Units: 124
- Lender: FirstBank
- Landlord: Trailbreak Partners
- Broker: Rob Bova - JLL
- Loan Type: Construction
The loan from FirstBank will support the construction of the multifamily property located at 3245 N Eliot St in Denver, CO. This loan will enable Trailbreak Partners to develop the property and provide 124 new units in the market.
On the Map
$24,260,000
MultiFamily
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Players
Denver MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93