Dealmaker: Calmwater Capital Funds $34M for Refinance of Colorado Apartment Community

(Image courtesy of Calmwater Capital)

Calmwater Capital, El Segundo, Calif., provided The Prime Co. with $34 million in first mortgage debt to refinance a multifamily property in Englewood, Colo., near Denver.

Calmwater Director Zachary Novatt led the origination team that included Managing Principal Larry Grantham and Vice President DaJuan Bennett.  

The 30-month, floating-rate loan was secured by the five-story in-fill development which was delivered to market by TPC in December.

“Calmwater continues to see an increase in demand for our bridge program to refinance high-quality assets that need additional time to lease up or to season their existing rent roll,” noted Grantham.

The property is a 146-unit Class A Multifamily property, with studio one- and two-bedroom units and numerous amenities.