PMG Lands $107.5M Construction Loan for Cherry Creek Condos
PMG secured $107.5 million in construction financing for Waldorf Astoria Residences Denver Cherry Creek in Colorado. Maxim Capital Group provided financing. The transaction was led by PMG’s Capital Markets team, composed of Andrew Warman, Jonathan Blank, and Paton Marion, in coordination with in-house counsel Lowell Plotkin, Lindsay Davis, and Scott Buscemi.
Concept design for the property is led by Shears Adkins Rockmore (SAR+) in collaboration with Carlos Ott.
Waldorf Astoria Residences Denver Cherry Creek will consist of fully finished luxury residences ranging from 690 square feet to 3,879 square feet. The residences feature mountain and downtown views and private balconies.
Amenities will include a Peacock Alley-inspired lounge, a signature restaurant, a rooftop pool with bar and lounge areas, a wellness center with massage, saunas, and steam rooms, and a fitness studio.
Other News
One Beverly Hills Reaches Milestones Ahead of Schedule
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion
Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor
Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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Brokers
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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