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Page 24 - April 5-18, 2017 COLORADO REAL ESTATE JOURNAL
by Jennifer Hayes
Metropolitan Capital Advisors
Ltd. recently arranged two loans,
including construction financing
for the third phase of the Belle
Creek Commons project.
Charley Babb, senior director
and principal of Metropolitan
Capital Advisors’ Denver office,
and Tiffiany Mullins, senior asso-
ciate at MCA, placed the $4.12
million construction loan for the
Belle Creek Commons develop-
ment.
MCA arranged the debt financ-
ing on behalf of an entity spon-
sored by Chartered Development
Corp., a Denver-based develop-
ment company. The construction,
minipermanent financing has a 5
percent interest rate. Additionally,
the loan has prepayment flexibil-
ity.
The unnamed lender also pro-
vided the financing for the first
two phases of Belle Creek Com-
mons, where the first phase of
construction is complete and
Phase 2 is underway.
The third phase of the com-
munity at Belle Creek Commons
will include 24 apartments and 10
townhomes. Anticipated delivery
is this fall. A final, fourth phase
is planned with build out in the
first quarter of 2018. One-, two-
and three-bedroom apartments
include a patio or balcony, in-
unit washer and dryer and state-
of-the-art soundproofing. The
two-story townhomes with two
and three bedrooms feature an
attached two-car garage, 8- and
9-foot, ceilings, and in-unit wash-
ers and dryers.
At completion, Belle Creek
commons will comprise 177
market-rate units and complete
the full development of the Belle
Creek community at 9444 E 108th
Ave. in Henderson. In addition to
the apartments and townhomes,
the master-planned Belle Creek
community features single-fam-
ily homes, community gardens,
membership to the Belle Creek
Family Center & YMCA, free
community events, such movies
in the park, and walkability to
retail and restaurants as well as
the Bell Creek K-8 Charter School.
“The thing I found so exciting
was that the developer was able
to deliver this quality of housing
at this price in the current market.
This is really what got me excited
about taking this assignment,”
said Babb.
MCA also arranged a $3.5
million, fixed-rate loan for Shift
Workspaces-Corona.
Babb and Mullins placed the
loan with a community credit
union located in Denver. The
10-year full-term loan includes a
seven-year term fixed at 4 percent
and a 25-year amortization.
Shift Workspaces-Corona, at the
intersectionof East FourthAvenue
and Corona Street in Denver, fea-
tures a collaborative co-working
office space with fully amenitized
workspaces ranging from private
offices, designated desks and co-
working space with a collabora-
tive conference room and event
space. Additionally, Shift includes
a full kitchen stocked with coffee
and beverages and an on-site fit-
ness facility and yoga studio. ▲
I N D U S T R Y D I R E C T O R Y
COMMERCIAL REAL ESTATE
LENDERS
Arbor Commercial
Mortgage, LLC
Bank of America Merrill
Lynch – Commercial
Real Estate
Bank of Colorado
Bank of the West
Berkadia Commercial
Mortgage, LLC
Bloomfield Capital
Partners, LLC
CBRE|Capital Markets
Chase Commercial Term
Lending
Citywide Banks
Colorado Business Bank
Colorado Lending Source
Commerce Bank
Essex Financial Group
FairviewCommercialLending
FirstBankHoldingCompany
Front Range Bank
Grandbridge Real Estate
Capital LLC
Hunt Mortgage Group
JVSC-CBRECapitalMarkets
KeyBankN.A.,KeyBankReal
Estate Capital
Merchants Mortgage and
Trust Corp.
Midland States Bank
MontegraCapitalResources,
Private Lender
Mutual of Omaha Bank
NorthMarq Capital, Inc.
RNB Lending Group
TCF Bank
TerrixFinancialCorporation
U.S. Bank – Commercial
Real Estate
Vectra Bank Colorado, N.A.
Westerra Credit Union
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Finance
Construction financing was provided for the third phase of the Belle Creek Commons project in Henderson.