FINDING CASH FOR APARTMENTS
Want to get a jump-start on upcoming deals? Meet the major Denver players at one of our upcoming events!
|Multifamily lending has been dominating Johnson Capital’s loan originations. Especially in Denver where apartments are hot. We chatted with Johnson Capital’s VP Kristian Lichtenfels, who has been helping many developers refi and cash out on multifamily projects with Fannie Mae and Freddie Mac money. Most recently Kristian rounded up nearly $2M in financing for a 23-unit rehab project in Denver. He says part of the apartment boom is simply catching up to Denver renter demand: For the past 30 years, average demand has been for 5,000 units/year. Supply has nowhere been near that.|
|But it’s not just multifamily for which investors are seeking capital. Most recently Kristian says he put $7.3M in life company debt on the National Archives building in Denver after it was purchased earlier this year by a local investor. (We think that's the building where they keep all our old tweets.) “The demand for office projects in the right location is robust,” he says. “And institutional investors are focused on the very, very core Downtown [CRE].”|