AURORA, CO—Canyon Partners Real Estate LLC has made a $30 million preferred equity investment in a joint venture between The Pollin Group, Catalina Development Company, and Two Sigma Private Investments for the construction of The Forum Fitzsimons. 

Located in the Denver suburb of Aurora, CO, the mixed-use development will include 397 luxury rental units and approximately 28,000 square feet of retail and restaurant space. Construction is scheduled to begin this month.

The Forum is located adjacent to the Anschutz Medical Campus and Fitzsimons Life Science District, the fastest growing medical campus in the United States.  This 578-acre, $5.2 billion, 18.5 million square foot, medical and bioscience campus is projected to employ more than 45,000 people.  The Anschutz Medical Campus and Fitzsimons Life Science District is home to the University of Colorado Hospital, the University of Colorado Denver's Health Science Schools, the Children's Hospital Colorado, the new 1.2 million square foot VA Medical Center and countless other centers for health care and biomedical research.

Additionally, The Forum is located across the street from the future RTD Light Rail Colfax Station that will allow direct access to downtown Denver, the Denver International Airport, and Denver's southern and western suburbs and employment hubs.

“While other areas of Denver are witnessing a substantial amount of new apartment inventory, we believe this intersection in Aurora represents a unique opportunity to deliver housing and retail to an underserved submarket with a captive and growing employment base” said Marti Page, senior director, Canyon Partners Real Estate.

The Denver metro area is one of the top performing apartment markets in the country, and North Aurora is one of Denver's best performing submarket for both occupancy and rent growth. Colorado has some of the strongest job growth in the US, and increased employment opportunities are driving demand for apartment and retail space, which The Forum will help meet. Colorado continues to be attractive to investors due to its high employment and GDP growth, as well as a large increase in the working age population.

 “We are excited to break ground on The Forum Fitzsimons,” said Andy Pollin, president, The Pollin Group.  “The project has great visibility and is located next door to thousands of new jobs, a light rail station and has easy access to I-225.  Unlike many mixed-use developments where the retail design is secondary; the retail at The Forum Fitzsimons was a driver for the design of the entire project.  The retail design provides excellent visibility with ample parking for the unique mix of restaurants and retailers serving the community.”