Trending...
- Preston Dermatology & Skin Surgery Center and Dr. Sheel Desai Solomon Dominate Raleigh's Best Awards from The News & Observer
- Wzzph Deploys 5-Million-TPS Trading Engine with Hot-Cold Wallet Architecture Serving 500,000 Active Users Across Latin America
- Colorado Springs: Mayor Yemi coordinates community resources as SNAP benefits expire Nov. 1
Download
The 150-unit "Connect at First Creek" development in Denver, Colorado. (Photo: Business Wire)
DENVER--(BUSINESS WIRE)--ACRE, a global real estate private equity firm, today announced it has finalized a $43.5 million bridge loan with Peak Capital Partners ("Peak Capital"), to support the luxury multifamily apartment community 'Connect at First Creek' in Denver, Colorado.
More on Colorado Desk
Issued through ACRE's latest debt fund "ACRE Credit I", the loan will support Peak Capital's purchase of the 150-unit community. Executed in May, the 3-year agreement includes options for two single-year extensions.
Brian Caudel and Jack Tidrick at KeyBank Real Estate Capital served as brokers for the deal.
"Denver has continued to add huge numbers of both jobs and residents over recent years, making it one of the country's fastest-growing metro areas and creating a critical need for high-quality rental housing," said Daniel Jacobs, Managing Partner at ACRE. "Connect at First Creek has already enjoyed impressive success in helping to satisfy that robust demand, and we're proud to play a role in supporting Peak Capital's purchase of this first-class property."
The agreement for Connect at First Creek was one of four loans, totaling approximately $169 million, issued via 'ACRE Credit I' in May alone. Other loans finalized during the month were issued in support of multifamily developments in Nashville, Tennessee; Fort Worth, Texas; and Fredericksburg, Virginia.
The loan also represents the third issued to Peak Capital since ACRE Credit 1's launch in August 2020, following two transactions for properties in the Atlanta metropolitan area.
To date, the fund has raised $509 million of equity and has committed to provide more than $2 billion in whole loans across 52 transactions to support the acquisition, lease-up, redevelopment and recapitalization of multifamily assets in growing secondary markets across the U.S.
"Our lending platform has been able to provide financing for a fast-expanding list of apartment developments across a wide variety of markets, as we continue to form and solidify partnerships with industry leaders like Peak Capital Partners," said Jacobs. "May marked yet another productive month for 'ACRE Credit I', and we look forward to continuing to support other companies and the country's rental housing sector at-large, as it experiences nearly unprecedented growth."
More on Colorado Desk
Located at 17900 East 56th Avenue, Connect at First Creek was built and delivered by Massimino Development. Since opening in 2020, the community has enjoyed significant lease-up success, as it is currently 96 percent leased.
The development's 150 luxury units feature a wide range of amenities, with in-unit features and finishes including stainless steel kitchen appliances, quartz countertops, Bluetooth keyless deadbolt locks, wood-style flooring, washer/dryer, walk-in closets, and private balcony/patio space. Community amenities include a resort-style swimming pool, fitness center, clubhouse, open air dining spaces with stainless steel BBQ grills, game room with billiards, coworking and conference spaces, a half-acre dedicated park, and direct access to First Creek Trail.
Connect at First Creek is located just a short distance from Pena Boulevard, Interstate 70, Interstate 225 and the 61st & Pena Light Rail station, offering residents an easy trip to Downtown Denver, Denver International Airport, and Aurora. The property is also adjacent to Rocky Mountain Arsenal National Wildlife Refuge, a 15,988-acre wildlife sanctuary.
About ACRE
ACRE is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $3.1 billion concentrated in U.S. multifamily with holdings in the United Kingdom and Southeast Asia through separate verticals. ACRE has offices in Atlanta, New York, and Singapore.
Contacts
Media:
Wes Johnson
Antenna | Spaces
(773) 453-7432
wesley.johnson@antennagroup.com
0) { // Create container for hi-res image jQuery('#bw-release-hires').append('
'); }; }); ]]>
Contacts
Media:
Wes Johnson
Antenna | Spaces
(773) 453-7432
wesley.johnson@antennagroup.com
The 150-unit "Connect at First Creek" development in Denver, Colorado. (Photo: Business Wire)
- The 150-unit "Connect at First Creek" development in Denver, Colorado. (Photo: Business Wire)
DENVER--(BUSINESS WIRE)--ACRE, a global real estate private equity firm, today announced it has finalized a $43.5 million bridge loan with Peak Capital Partners ("Peak Capital"), to support the luxury multifamily apartment community 'Connect at First Creek' in Denver, Colorado.
More on Colorado Desk
- Colorado Springs: Costilla Street to close through January 2026 east of Wahsatch Avenue
- Colorado Springs: Mayor Yemi honors seven emerging leaders at annual Mayor's Young Leader Awards ceremony
- Colorado Springs: East Las Vegas Street closing under Circle Drive for two weeks
- Colorado: Gov. Polis: Speaker Pelosi is a Transformational American Leader
- Dr. Jay A. Johannigman Delivers Lecture at the John R. Border Memorial Lectureship in Buffalo
Issued through ACRE's latest debt fund "ACRE Credit I", the loan will support Peak Capital's purchase of the 150-unit community. Executed in May, the 3-year agreement includes options for two single-year extensions.
Brian Caudel and Jack Tidrick at KeyBank Real Estate Capital served as brokers for the deal.
"Denver has continued to add huge numbers of both jobs and residents over recent years, making it one of the country's fastest-growing metro areas and creating a critical need for high-quality rental housing," said Daniel Jacobs, Managing Partner at ACRE. "Connect at First Creek has already enjoyed impressive success in helping to satisfy that robust demand, and we're proud to play a role in supporting Peak Capital's purchase of this first-class property."
The agreement for Connect at First Creek was one of four loans, totaling approximately $169 million, issued via 'ACRE Credit I' in May alone. Other loans finalized during the month were issued in support of multifamily developments in Nashville, Tennessee; Fort Worth, Texas; and Fredericksburg, Virginia.
The loan also represents the third issued to Peak Capital since ACRE Credit 1's launch in August 2020, following two transactions for properties in the Atlanta metropolitan area.
To date, the fund has raised $509 million of equity and has committed to provide more than $2 billion in whole loans across 52 transactions to support the acquisition, lease-up, redevelopment and recapitalization of multifamily assets in growing secondary markets across the U.S.
"Our lending platform has been able to provide financing for a fast-expanding list of apartment developments across a wide variety of markets, as we continue to form and solidify partnerships with industry leaders like Peak Capital Partners," said Jacobs. "May marked yet another productive month for 'ACRE Credit I', and we look forward to continuing to support other companies and the country's rental housing sector at-large, as it experiences nearly unprecedented growth."
More on Colorado Desk
- Powering the Next Frontier of the $1 Trillion Space Economy: Ascent Solar Technologies (N A S D A Q: ASTI)
- Taikan's T-V856S VMC Earns Prestigious 2025 Vogel Global Pioneer Award
- Flick Truck Accident Law Joins the Commercial Vehicle Safety Alliance to Strengthen Truck Safety Advocacy
- PebblePad Announces Global Partnership with Inside Higher Ed and Times Higher Education
- Passion Struck Network Debuts: A Creator-First Platform for Purpose-Driven Podcasting and Human Impact
Located at 17900 East 56th Avenue, Connect at First Creek was built and delivered by Massimino Development. Since opening in 2020, the community has enjoyed significant lease-up success, as it is currently 96 percent leased.
The development's 150 luxury units feature a wide range of amenities, with in-unit features and finishes including stainless steel kitchen appliances, quartz countertops, Bluetooth keyless deadbolt locks, wood-style flooring, washer/dryer, walk-in closets, and private balcony/patio space. Community amenities include a resort-style swimming pool, fitness center, clubhouse, open air dining spaces with stainless steel BBQ grills, game room with billiards, coworking and conference spaces, a half-acre dedicated park, and direct access to First Creek Trail.
Connect at First Creek is located just a short distance from Pena Boulevard, Interstate 70, Interstate 225 and the 61st & Pena Light Rail station, offering residents an easy trip to Downtown Denver, Denver International Airport, and Aurora. The property is also adjacent to Rocky Mountain Arsenal National Wildlife Refuge, a 15,988-acre wildlife sanctuary.
About ACRE
ACRE is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $3.1 billion concentrated in U.S. multifamily with holdings in the United Kingdom and Southeast Asia through separate verticals. ACRE has offices in Atlanta, New York, and Singapore.
Contacts
Media:
Wes Johnson
Antenna | Spaces
(773) 453-7432
wesley.johnson@antennagroup.com
0) { // Create container for hi-res image jQuery('#bw-release-hires').append('
'); }; }); ]]>
Contacts
Media:
Wes Johnson
Antenna | Spaces
(773) 453-7432
wesley.johnson@antennagroup.com
Filed Under: Business
0 Comments
Latest on Colorado Desk
- Epic Pictures Group Sets North American Release Date for the Action Thriller LOST HORIZON
- HR Soul Consulting Recognized as a 2025 Inc. Power Partner Award Winner for the Fourth Consecutive Year
- Miqesia Investment Alliance Under Elias Mercer Launches Institutional Growth Initiative
- Colorado: Gov. Polis Orders Flags Lowered to Honor Former Vice President
- Colorado: Lt. Governor Dianne Primavera Visits Adams County Food Bank, Highlights State Action to Support Families as Federal SNAP Benefits Cut in Half
- Last Chance to Save on Ski Passes, Gear and Rentals at Christy Sports' Ready. Set. Snow! Sale
- Denver Arts Week at Yarn Shoppe Denver!
- Brazil 021 Chicago Launches New Website and Expands with No-Gi Classes for All Levels
- American Star Guard Unveils a Powerful Rebrand and Expanded Security Services Throughout Nevada
- PlaceBased Media Expands Point-of-Care Advertising Inventory Across U.S. Clinic Network
- Colorado: Today is Election Day! Governor Polis Reminds Coloradans to Vote in Election Today by 7 pm
- Flexible Plan Investments launches FlexDirex, a first-to-market suite of single-stock ETF strategies in the U.S
- Celebrating the Latest Certified Six Sigma Green Belt Graduates
- Colorado: Polis Administrations Celebrates Increased EV Incentives for New and Used Electric Vehicles
- Colorado Agencies Sign Landmark One Health Agreement to Protect Public, Animal, and Environmental Health
- Associates in Forensic Investigations Newsletter - Findings in Expert Consultations Nov 2025
- Death and Serious Bodily Injury Investigation for the Professional Investigator
- Revenue Optics Ignites AI Revolution in Industrial Distribution
- Arnica Unveils "Arnie AI" to Secure the Future of AI-Driven Software Development
- Axiros North America Announces New CEO: Gabriel Davidov