CBRE Secures $84 Million in Financing for Acquisition of Newly Constructed 310-Unit Multifamily Property in Wheat Ridge, Colorado

WHEAT RIDGE, CO - CBRE Capital Markets’ Debt & Structured Finance has secured $84 million in financing on behalf of Seagate Colorado Partners, LLC, for Outlook Clear Creek, a 310-unit multifamily property in Wheat Ridge, Colo. Seagate Properties acquired the newly constructed property for an undisclosed sum from Evergreen Development. CBRE secured a seven-year fixed rate loan with full term interest only through a life company.  

CBRE’s Brady O’Donnell and Jill Haug represented Seagate Properties in the financing.

“Outlook Clear Creek is an exceptional property, representing some of the only new multifamily construction in the supply-constrained west Denver market. We were able to secure an optimal financing solution by facilitating a relationship between our client and a lender who offered a stabilized loan execution prior to full stabilization at the property,” said Mr. O’Donnell, vice chairman, CBRE.

Located at 4040 Clear Creek Drive, Outlook Clear Creek is an elevator-served apartment community comprised of 10 mid-rise buildings on approximately 12.5 acres. Unit sizes average 893 sq. ft. and include one- and two-bedroom floorplans. Amenities include a mountain-side pool and hot tub, a fitness facility, a poolside outdoor theater, a co-working lounge, a lighted dog park and electric car charging stations. Completed in March 2021, the property leased up quickly and was nearly fully leased at the time of financing execution. 

Outlook Clear Creek is located within the master-planned Clear Creek Crossing mixed-use development, southwest of the Highway 58 and Interstate 70 intersection. It is near several large regional employers and is adjacent to the future SCL Health Lutheran Medical Center, slated to bring 2,000 jobs to the area.

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