COLORADO SPRINGS, COLO. — Gantry has secured a $24.4 million permanent loan as construction takeout financing for The Edison at Chapel Hills, a multifamily property in Colorado Springs’ Briargate neighborhood. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate investor. The 10-year, non-recourse, fixed-rate loan was secured from Freddie Mac and includes partial term interest only then 35-year amortization.
Situated on 7 acres at 970 Menlo Park Point, The Edison at Chapel Hills, features three four-story buildings offering a total of 171 studio, one-, two- and three-bedroom floor plans. In-home amenities include high ceilings, modern kitchens, premium vinyl plank flooring and washers/dryers. Community amenities include a heated pool, 24-hour fitness center, golf simulator, pet spa, dog park, EV charging and garage parking.