News release

Urban multi-housing asset buy in downtown Denver financed for $52M

JLL Capital Markets arranged the loan for Mountain View Capital to acquire the core-plus Point 21 Urban Flats

November 17, 2021

Kimberly Steele

Industries, Work Dynamics and PDS PR
+1 713 852 3420

DENVER, Nov. 17, 2021 – JLL Capital Markets announced today that it has arranged $52 million in acquisition financing for Point 21 Urban Flats, a 212-unit, luxury, core-plus, podium-style multi-housing asset in downtown Denver, Colorado.

JLL worked on behalf of the borrower, Mountain View Capital, to secure the five-year acquisition loan with four-years of interest only through a JLL correspondent national insurance company. The financing reflects a 61.7-percent loan-to-purchase price and provides three years of fixed rate and two years of floating rate with open prepay in the last two years.

Constructed in 2014, Point 21 Urban Flats consists of modern one- and two-bedroom units averaging 816 square feet that feature white Quartz countertops, vinyl hardwood-style flooring, in-unit washers and dryers, alarm systems, walk-in closets, large soaking tubs and balconies in select units. The six-story building houses a full suite of community amenities, including a deck with a full-sized swimming pool and spa, rooftop lounge with sweeping city and mountain views, 24-hour fitness center, two outdoor courtyards, electric car charging station, dog wash station, dry cleaning lockers, garage parking and business center. Mountain View Capital plans to implement strategic capital investment into common areas, lighting and interior unit upgrades.

Point 21 Urban Flats is located at 2131 Lawrence St. in the heart of Downtown Denver’s Ballpark neighborhood, which provides a dynamic urban lifestyle environment blocks from popular restaurants, entertainment, nightlife, fitness and retail. Surrounded by affluent demographics, nearly 70 percent of the housing units within the area are renter occupied, demonstrating the demand for urban live-work-play assets. Additionally, this true core location places the property within walking distance to some of downtown’s top employers, along with the highly sought-after LoDo, Ballpark and RiNo neighborhoods.

Driven by a high quality of life and job and population growth, Denver is recognized as one of the hottest markets across the country and a top destination for companies and out-of-state residents seeking work-life balance in a rapidly growing city. Coupled with an increasing number of residents seeking urban living environments with access to Denver’s core, downtown Denver’s population is projected to grow by four percent annually over the next four years. Properties like Point 21 Urban Flats are well positioned to further capitalize on Denver’s growth story in the years to come.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Kristian Lichtenfels.

“Our JLL team was thrilled to help support Mountain View Capital in another great addition to their Colorado portfolio of multi-housing assets,” Lichtenfels said. “There was strong capital interest for this acquisition financing considering the great basis and expected near-term revenue growth. The JLL correspondent lender provided a creative loan structure with a fixed-rate, interest only and flexibility of prepay – a perfect alignment of terms with Mountain View Capital’s business plan of capital improvements and strategic revenue growth.” 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Mountain View Capital

Mountain View Capital strategically acquires, repositions and develops multifamily and commercial real estate assets. The company’s current portfolio includes more than 1,700 apartment units in seven communities along Colorado’s Front Range. It strives to create long-term cash flows and significant value appreciation in every investment opportunity. Strong relationships with skilled real estate professionals give it a unique ability to achieve superior returns. That depth of experience also allows Mountain View Capital to create exceptional value for residents who choose its communities as their home.