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GREELEY, Colo. — Dallas-based Edison Equity Management has received $23 million in construction financing for the development of 55 Resort Apartments, an age-restricted multifamily property located in Greeley.
Located on the former site of the Garnsey & Wheeler Ford dealership, 55 Resort Apartments will feature 84 apartments for adults age 55 and above.
The property will offer exercise classes, service coordination and social activities, as well as 5,000 square feet of retail space leased to Austin’s American Grill restaurant.
The development is slated to open in summer 2022. Dallas-based Hall Structured Finance closed the first lien construction loan for the borrower. Amir Giryes of Pando Cos. sourced the financing for the project.