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Colliers Mortgage Provides $19.3M Construction Loan For 64-Unit Development In Lafayette CO

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FINANCED
$19,300,000

Georgia

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Development Site
Financed 02/06/2025
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Property Image
FINANCED

Colliers Mortgage Provides $19.3M Construction Loan For 64-Unit Development In Lafayette CO

Development Site
Financed 02/06/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Loan

The property is a development site consisting of 64 units located in Lafayette, CO. This asset is designed as an age-restricted residential property, featuring modern amenities such as underground parking, a fitness center, and community spaces.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $19,300,000
  • Loan Type: Construction
  • Lender: Colliers Mortgage
  • Landlord: Village Cooperative of Erie
  • Loan Date: 02/06/2025

The deal was facilitated by Colliers Mortgage’s Minneapolis office, which provided the loan through HUD 213 to support the construction of the Village Cooperative of Erie. Key stakeholders involved in this transaction include the landlord, Village Cooperative of Erie, and the lender, Colliers Mortgage.

Players

Colliers Mortgage
Colliers Mortgage
LENDER

Details

FINANCED
IMAGE: 02/06/2025 MARKET: Lafayette, CO ASSET TYPE: Development Site ~ UNITS: 64 LENDER: Colliers Mortgage LANDLORD: Village Cooperative of Erie LOAN AMOUNT: $19,300,000 LOAN TYPE: Construction NOTE: Colliers Mortgage’s Minneapolis office has provided a $19.3M HUD 213 loan for the construction of Village Cooperative of Erie, an age-restricted residential property. The 64-unit property will offer modern amenities, including underground parking, fitness center, and community spaces.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,300,000.00

Monthly NOI$128,666.67
Monthly Debt Service$121,989.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00