Prime West gets $90M to build Aurora apartments

DENVER — The development arm of Prime West Companies Ltd. got $90.4 million in financing to build Claro at High Point, a 365-unit apartment project about 12 miles from downtown Denver.

Chicago-based JLL Capital Markets secured joint venture equity from Bridge Investment Group Holdings Inc. (NYSE: BRDG) in Salt Lake City and construction financing from an unnamed bank. An affiliate of Bridge in October paid $44 million for an industrial property in Greeley.

Claro is expected to open in 2023 in High Point, an 1,800-acre development with 3,000 homes in an opportunity zone in Aurora. Ratio Architects in Denver is designing it; Lakewood-based Catamount Constructors Inc. is the general contractor.

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