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ACRE Closes on $52.7m loan for Johnstown Plaza development in Johnstown, Colo.
Transactions - OCTOBER 24, 2022

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ACRE Closes on $52.7m loan for Johnstown Plaza development in Johnstown, Colo.

by Released

ACRE as finalized a $52.7 million loan with a joint venture between Graycliff Capital Partners and Buligo Capital Partners, to support Johnstown Plaza, a newly built class A multifamily community, in Johnstown, Colo.

Issued through ACRE’s debt fund, ACRE Credit I, the loan will facilitate Graycliff and Buligo’s purchase of the 252-unit community. Executed in October, the two-year agreement includes options for three single-year extensions.

“With significant economic growth and development in the last three years, Johnstown has established itself as an increasingly sought-after place to live in the greater Denver-Fort Collins area. As the town’s population continues to grow, the need for an increased supply of high-quality rental housing is inevitable,” said Daniel Jacobs, a managing partner at ACRE. “As one of the area’s newest residential developments, Johnstown Plaza presents immense potential to create a positive impact on the area’s residents, and w

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