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$18M Financing Secured For Cherry Creek-Area Development

Botnick Realty has secured $18.85M in financing for its latest multifamily project. 

$18M Financing Secured For Cherry Creek-Area Development
Bloom at Cherry Creek will be a 111-unit apartment building at 4700 East Kentucky Ave.

The development, called Bloom at Cherry Creek, will be a 111-unit, five-story building at 4700 East Kentucky Ave.  It’s located near a multifamily portfolio that sold for over $56M in late 2018, and less than half a mile from a 561-unit property that sold for $93M around the same time.

It is expected to be completed in mid-2021. JLL Capital Markets arranged the five-year construction loan on behalf of Botnick Realty. 

Botnick Realty is an Akron, Ohio-based real estate developer with properties in Ohio, Colorado and Georgia.