About this Property in Englewood, CO – Hospitality Conversion

Overview

Enact Partners provided bridge financing for the acquisition of a hotel property in Englewood, Colorado, with a business plan to convert the asset into a 94-unit multifamily community.

The existing building configuration included layouts with kitchenettes, allowing for an efficient transition from hospitality to residential use. The conversion plan includes studio, one-bedroom, and two-bedroom units designed to meet continued rental demand in the submarket.

Bridge capital supported the acquisition while zoning approvals and entitlement work progressed, positioning the project for renovation and stabilization within approximately one year.

Loan Structure

• Loan Amount: $4,500,000
• Loan Type: Acquisition Bridge Loan
• Term: 12-month bridge loan

The structure provided the flexibility needed to complete approvals, advance renovations, and transition the property toward stabilized multifamily operations.

Market Dynamics

The Englewood submarket benefits from strong employment fundamentals, regional connectivity, and sustained demand for rental housing. In markets where housing supply remains constrained, adaptive reuse of existing hospitality assets can offer a practical and efficient path to delivering new residential units.

By leveraging the existing structure, the project reduces development timelines compared to ground-up construction while addressing ongoing housing demand.

Sponsorship

The sponsor has experience executing hospitality-to-multifamily conversions in comparable markets, with a focus on practical renovation scopes and efficient project timelines. Their approach emphasizes repositioning underutilized assets into stabilized residential properties aligned with local demand.

Exit Strategy and Expected Outcome

The anticipated exit includes stabilization followed by refinance into longer-term financing. The bridge loan provided acquisition capital and execution runway, supporting a clear path toward stabilized operations and long-term value creation.