About this Property in Englewood, CO

Enact Partners recently closed a commercial real estate bridge loan of $4.5 million to support the adaptive reuse of a hotel property in Englewood, Colorado. The sponsor plans to convert the existing extended-stay asset into a 94-unit multifamily community consisting of studio, one-bedroom, and two-bedroom apartments. The hotel’s existing layout, with individual units equipped with kitchenettes, positions the project for an efficient, cost-effective transformation, with lease-up projected within one year. Located in a well-connected submarket near major employment and transit corridors, the site is zoned for commercial use with multifamily allowed through an administrative approval process. While the current use remains an operational hotel, the borrower is finalizing entitlements, including a parking waiver to resolve a shortfall in required spaces. These approvals are expected by the end of the month, allowing the project to move into the next phase of execution. Enact structured the commercial real estate bridge loan to support the acquisition and pre-development timeline. The remaining capital to close was contributed through a unique debt and equity structure, which gave our team an opportunity to engage more deeply with the complexities of hospitality-to-housing conversions and to partner with a borrower who has a proven record in this specialized space. This transaction reflects Enact Partners’ ongoing commitment to supporting creative, mission-aligned redevelopment strategies.