JLL Capital Markets arranged the construction financing of 214-unit The Hunter located in the New South End neighborhood, one of the fastest growing submarkets in the area
News release
12 June 2023
Class A multi-housing development in Colorado Springs secures construction financing
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DENVER, June 12, 2023 – JLL Capital Markets announced today that it has secured construction financing for The Hunter, a 214-unit, Class A multi-housing project located in Colorado Springs’ New South End neighborhood, one of the area’s fastest growing submarkets.
JLL worked on behalf of the borrower, a joint venture between Formativ and Argosy Real Estate Partners.
The seven-story development will be complete in late 2024. The studio, one- and two-bedroom units will feature modern interiors, full kitchens and in-unit washers and dryers. Common amenities will include a two-story tenant lounge with mountain views, golf simulator, pool and hot tub, fitness center, ample coworking space, bike storage, a year-round amenity deck, dog wash, above grade parking garage and more.
The Hunter will be situated at 225 E Cimarron St. within an Opportunity Zone. The property is just minutes from downtown Colorado Springs and proximate to I-25, as well as walkable to Tejon Streets’ acclaimed food and drink establishments and the recently built Weidner Field. Within a five-mile drive of the property is 14 million square feet of office space and 20 million square feet of retail space, demonstrating the area’s continued development.
The JLL Capital Markets Debt Advisory team was led by Director Rob Bova.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Formativ
FORMATIV is an integrated real estate development and investment firm based in Denver, CO that focuses on in-the-path-of-growth, urban in-fill developments. With more than 50-years in combined experience, its visionary team specializes in Mixed-Use, Master-Planned, Multifamily, Creative Office, and Hospitality asset categories. For information on current developments, please visit www.formativco.com.