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Natixis Arranges $66.2 Million Construction Financing for Westminster Town Square

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Corporate & Investment Banking
Americas
USA
Real Estate
Real Assets
New York, État de New York, États-Unis, December 7, 2017

Natixis provided a $50 million construction loan and arranged a $16.2 million preferred equity position for the development of a 255 unit Class A multifamily community with ground floor retail located in the fast-growing market of Westminster, CO. Westminster is located 10 miles from Denver and 15 miles from Boulder. The project is being developed by Minneapolis-based developer Sherman Associates, Inc.

Westminster Town Square is part of a larger 105-acre Downtown Westminster Master Plan mixed-use redevelopment of the former Westminster Mall. The project is a 5-story, 255-unit, Class A, mid-rise apartment building with a three-level parking garage containing 386 parking spaces and 24,770 sq. ft. of ground floor commercial space, including 2,148 sq. ft. of outdoor seating areas for restaurant spaces. Extensive amenities include a rooftop area, resort style pool and spa, clubhouse, fitness center, car/pet wash, bike repair and a golf simulator room. In addition, the property will be designed to achieve LEED silver certification.

Natixis continues its push into the greater Denver market with this financing and seeks other opportunities in the market. Greg Murphy, Head of Real Estate Finance for the Americas, says that “Natixis is targeting markets such as Denver, with strong demographic trends, positive employment growth, and favorable business climates.”

Sherman Associates, founded in 1978, is an award-winning real estate company specializing in design, construction and financing of commercial and housing properties in Colorado, California, Minnesota, Wisconsin, Iowa, and Missouri, with 8,500 units and 600,000 sq. ft. of commercial space under ownership.

Attachment

Natixis Arranges $66.2 Million Construction Financing for Westminster Town Square

December 7, 2017

Natixis Arranges $66.2 Million Construction Financing...

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Press contacts

Sonia Dilouya

Sonia Dilouya

Press Relations, Natixis

+33 1 58 32 01 03

Vanessa Stephan

Vanessa Stephan

Press Relations, Natixis

+33 1 58 19 34 16

Daniel Wilson

Daniel Wilson

Head of Press Relations and Social Media, Natixis

+33 1 58 19 10 40

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About Natixis

Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.8 billion, a Basel 3 CET1 Ratio(1) of 11.7% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+). 

(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in

Figures as at 30 September 2020.

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