Updated Aug 12, 2025
Dwight Capital Funds 48.3M HUD 223f Loan For Plaza At Pikes Peak Colorado Springs
702 East Pikes Peak Avenue
$48,300,000
Units
215
Asset Type
MultiFamily
Closing
Aug 11, 2025
About this deal
AI
Plaza at Pikes Peak is a 215-unit multifamily asset located at 702 East Pikes Peak Avenue in Colorado Springs, CO. The property falls within the Colorado Springs market and is financed with a $48,300,000 HUD 223(f) mortgage for the development, which was led by Dunn & Associates and Denver Land Co.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $48,300,000
- Units: 215
- Address: 702 East Pikes Peak Avenue, Colorado Springs, CO
- Market: Colorado Springs, CO
- Lender: Dwight Capital
- Landlords: Dunn & Associates; Denver Land Co
- Asset: Plaza at Pikes Peak
- Financing Type: HUD 223(f) mortgage financing
Date of transaction: 08/11/2025
On the Map
$48,300,000
MultiFamily
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Players
Colorado Springs 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93