$18M Financing Secured For Cherry Creek-Area Development
Botnick Realty has secured $18.85M in financing for its latest multifamily project.
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.