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8/03/18
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PCCP LLC has issued a $118.5 mil senior loan to a joint venture between Sightway Capital, The Pollin Group, and Catalina Development Company for the refinance and stabilization of Forum Fitzsimons, a new construction, multifamily and retail development in Aurora, CO. The property is comprised of 397 residential rental units above 28.5k sf of retail.
Forum Fitzsimons is located adjacent to the 578-acre Fitzsimons Medical Campus, a 12.4 msf medical campus. With more than 24,000 jobs and over 4,200 medical students, the medical campus is one of the largest employment centers in the greater Denver region.
Forum Fitzsimons is located on 6.5 acres at 13650 E. Colfax Ave, approximately 10 miles east of downtown Denver, just off of I-225, and approximately three miles south of I-70. The four-story property includes a six-story, 706-stall parking garage with direct access to each floor of residential buildings and 118 surface spaces servicing the retail. In addition to retail, on-site amenities include two outdoor courtyards each with a fire pit and saltwater pool, fitness center with yoga room and spin studio, cyber café and business center, two dog parks and a neighborhood park.
Three restaurant tenants have already signed leases for a portion of the retail space and include IHOP, Sushi Rama, and Firehouse Subs. The retail space is well-located with frontage and two large monument signs on Colfax Avenue (48,000 cars per day).
The area is currently underserved from a retail and restaurant perspective for the thousands of employees and patients that pass through the Fitzsimmons Medical Center on a daily basis. The property is also located adjacent to the Colfax light rail station, driving additional foot traffic for the retailers.
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