DENVER--(BUSINESS WIRE)--Northlight Capital Partners, a middle-market real estate credit specialist and fund manager, has originated a $72 million loan to fund the acquisition and horizontal development of 696 acres in Aurora, Colorado. The loan is provided to a leading residential land development company based in Denver, Colorado. Located east of E470 in Aurora, the development property is a 696-acre site zoned for approximately 2,500 residential units and 22 acres of commercial development. The developer anticipates a broad mix of single family, multifamily and commercial development land for sale to national and regional builders.
“This transaction represents our third development investment in the Denver market since 2020 and our second in Aurora, specifically,” said Chris DeStefano, Chief Investment Officer of Northlight Capital Partners. “We continue to remain positive on the Denver housing market prospects over the medium to long term and are excited to partner with the best-in-class land developers in this market on an outstanding opportunity.”
About Northlight Capital Partners, LLC
Northlight Capital Partners, LLC (“NCP”) is a middle-market real estate credit specialist and fund manager headquartered in Westport, CT. The company manages capital on behalf of various institutional, endowment and family office clients. Since 2011, NCP has managed and advised on investment vehicles totaling more than $500 million of capital, originating special situation debt and preferred equity and acquiring sub and non-performing loans. For more information, please visit https://nlightcp.com.
