DENVER—Centerline Capital Group of New York has provided a $33 million loan for the acquisition of Spyglass Hill Apartments, a multifamily property located in Denver. The transaction is a Fannie Mae market rate loan that will finance the acquisition of the property at a purchase price of $40 million.
Located at 7100 East Mississippi Avenue, Spyglass Hill Apartments is a garden-style multifamily complex that includes a total of 573 units housed in 31 two- and three-story residential buildings and a single-story leasing office building and single-story clubhouse.
The borrower is Spyglass 7100 LLC, a newly formed Colorado limited liability company that is an affiliate of BMC Investments, whose CEO is Matthew Joblon.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
