Edison Equity receives $ 23 million construction loan for 55 resort apartments in Greeley, Colorado
GREELEY, COLO. – Dallas-based Edison Equity Management has received $ 23 million in funding to build the 55 Resort Apartments development, an age-restricted multi-family property located in Greeley.
Located on the former Garnsey & Wheeler Ford dealership site, 55 Resort Apartments will feature 84 apartments for adults aged 55 and over. Each unit will include stainless steel appliances, quartz countertops, hardwood floors and tiled bathrooms. The four-storey complex will include a business center, meeting room, fitness center, clubhouse, bicycle storage, cinema room, swimming pool, coordination of services, park for dogs, an outdoor kitchen and barbecues, as well as covered and above-ground parking. In addition, 55 Resort Apartments will provide exercise classes, service coordination and social activities, as well as 5,000 square feet of retail space rented from Austin’s American Grill.
The development is slated to open in the summer of 2022. Dallas-based Hall Structured Finance has entered into the first construction loan with privilege for the borrower. Amir Giryes of Pando Cos. provided funding for the project.