LAKEWOOD, CO–HFF has arranged a $40.5 million participating mezzanine construction loan for the development of The Lodge at Denver West, a 252-unit multifamily housing community within the Denver West Business Park in Lakewood.

HFF worked on behalf of the borrower, a joint venture between The Greystone Group and The Stevinson Family, to arrange the $40.5 million, or 89 % of cost, construction/permanent loan through American National Insurance Company. The seven-year loan has a fixed interest rate of 5.5%, interest only during the 24-month construction term, and lender profit participation on a sale or refinance of the loan.

The Lodge at Denver West will be the final multifamily phase for the Denver West master-planned development. The 800-acre, mixed-use project includes approximately two million square feet of office space, nearly two million square feet of retail and 575 existing multi-housing units. Slated for completion in 2015, the Lodge at Denver West will feature a mixture of studio, one- and two-bedroom units. Community amenities will include a clubhouse with picnic area, business center, media room, fitness center, swimming pool and spa.