ENGLEWOOD, CO – April 1, 2021 – Berkadia announced today the sale and financing of Iron Works Village, a garden-style multifamily property in Englewood, Colorado. Senior Director Nick Steele and Director Tyler King of Berkadia’s Denver office led the $14.6 million sale on behalf of the seller, Denver-based Blvdway Communities.
Managing Directors Brian Huff and Kevin McCormack of Berkadia’s Denver office secured $9.229 million in acquisition financing through Fannie Mae on behalf of the buyer, an affiliate of Denver-based Treeline Multifamily Partners. The 10-year fixed rate loan provided six years of interest only payments followed by a 30-year amortization schedule.
“Iron Works Village was originally conceived as a for sale condo development, but the developer was able to capitalize on strong demand for multifamily rentals,” said King. “Iron Works’ units average over 1,400 square feet, differentiating it from other properties in the area.”
Iron Works Village was built in 2020. Located at 519 W Amherst Avenue, the property affords convenient access to South Broadway, dining, retail, nightlife, parks, and outdoor recreation.