Colliers Mortgage Provides $19.3M Construction Loan For 64-Unit Development In Lafayette CO
$19,300,000
Units
64
Asset Type
Development Site
Closing
Feb 6, 2025
AI
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
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93