BROOMFIELD, CA-PCCP LLC provided a $50 million loan to financethe acquisition of Terracina Villas, a 376-unit newly built class Aapartment property in Broomfield, CO. PCCP worked closely withthe borrower, Griffis Group, to structure a short sale among theseller, the senior lender, and the mezzanine lender over severalmonths.
“PCCP seized the opportunity to finance a new, premium apartmentproject at a significant discount to replacement cost for a highlyregarded borrower as Denver multifamily fundamentals showsignificant improvement,” says Greg Galusha, a partner withPCCP.
Galusha added that PCCP has invested more than $28 million ofequity in three properties in the Denver area with Griffis over thepast three years. “Terracina Villas is arguably the nicest and mostluxurious multifamily property in the Interlocken submarket,” saysDaniel Gordon, an analyst with PCCP. “The property has provenits potential to command premium rents now and into the foreseeablefuture.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
