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BROOMFIELD, CA-PCCP LLC provided a $50 million loan to finance the acquisition of Terracina Villas, a 376-unit newly built class A apartment property in Broomfield, CO. PCCP worked closely with the borrower, Griffis Group, to structure a short sale among the seller, the senior lender, and the mezzanine lender over several months.

“PCCP seized the opportunity to finance a new, premium apartment project at a significant discount to replacement cost for a highly regarded borrower as Denver multifamily fundamentals show significant improvement,” says Greg Galusha, a partner with PCCP.

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