Loft 9 Loft 9

Pensam Residential has closed a preferred equity investment to facilitate the $69 million recapitalization of Loft 9, a 418-unit apartment community in Denver.

Pensam's investment was structured behind Fannie Mae senior financing and proceeds from the senior loan and Pensam's preferred equity investment were used to payoff existing bridge financing and restructure the capital stack.

Loft 9 was built between in 1975 and 1979 and consists of studio, one- and two-bedroom apartment homes ranging from 650 square feet to 1,000 square feet. Units feature gourmet kitchens with energy-efficient appliances, spacious bedrooms with walk-in closets and expansive patios/balconies.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Denver
Multifamily
Capital Markets