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Saunders Commercial Receives $43.2M in Construction Financing for Ten West Greeley Apartments in Colorado

Ten-West-Greeley-rendering

Slated for completion in 2021, Ten West Greeley Apartments in Greeley, Colo., will feature 264 garden-style apartments.

GREELEY, COLO. — Saunders Commercial Development has received $43.2 million in structured construction financing for the development of Ten West Greeley Apartments, a Class A multifamily property being developed at 6600 Eighth St. in Greeley.

JLL worked on behalf of the developer to secure the approximately $32 million, floating-rate senior loan through a national bank and the $11.2 million preferred equity loan through a specialty financing group. Leon McBroom and Eric Tupler of JLL Capital Markets debt placement team secured the financing for the developer.

Situated on 10.15 acres, the three-story Ten West Greeley will feature 264 garden-style apartments averaging 882 square feet. Units will include stainless steel appliances, walk-in closets, plank flooring, full-size washers and dryers, and private balconies. Slated for completion in 2021, the property will feature 64 garages as well as 408 surface parking spaces. Community amenities will include a resort-style pool, outdoor fire pit, lounge area, clubhouse, entertainment area, fitness center, wet bar and dog wash.

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