homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

January 16, 2025

$56M Avatar loan backs 600 units in Boulder

Based here in Seattle, Avatar Financial Group announced this week that it supplied a $56 million loan for the future 610-unit Williams Village redevelopment in Boulder, Colorado. That's to replace an old strip mall. Avatar's T.R. Hazelrigg IV said in a statement, “Borrowers with large, transitional, and often complex projects like Williams Village are increasingly turning to private capital for the flexibility and speed they need.” The two-year loan “allows the borrower to buy out two remaining ground leases and get the site fully entitled for redevelopment,” says Avatar. Land deals will come this year; the six-building, mixed-use development will occur in two phases. It's to include a new grocery store and other retail. Morgan Creek Ventures is the developer, working with Coburn Architects. About half the apartments are intended for students at the nearby University of Colorado.




Email or user name:
Password:
 
Forgot password? Click here.