Livmark Lands $115.5M Construction Loan for Ft. Collins Apartments
Livmark Properties obtained a $115.5 million construction loan for Collins at Union Park, a 457-unit luxury multifamily community in Fort Collins, Colorado. The debt, arranged by Concord Summit Capital, was structured on a non-recourse basis with an 88% loan-to-cost ratio.
Collins at Union Park is a thoughtfully designed residential development featuring upscale apartments and carriage homes. Planned amenities include a clubhouse, pool, golf simulator, playground, parks, trails, and gathering spaces. The project is situated within walking distance of Front Range Village Shopping Center.
Site work is underway, and vertical construction is expected to start immediately at the project site located on Un Pk Ave in Fort Collins, CO 80525.
The financing was arranged by Concord Summit Capital’s Daniel J. Eidson, Keegan Burger and Ben Applebaum on behalf of Livmark.
“We successfully structured one loan facility to combine two phases into a single development, while negotiating a meaningful rate stepdown upon completion,” said Concord’s Eidson.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout