Onyx Funding announced recently that it has arranged a $33,345,000 refinancing for a Colorado multifamily portfolio, consisting of 3 properties in Denver and Colorado Springs, CO. Onyx Funding worked on behalf of the borrower to secure the 2-year, fixed-rate cash-out refinance loan.

Built between 1970 and 1973 and recently renovated in 2023, the portfolio consists of 468 units across 350,102 net rentable square foot, offering a mix of one-, two- and three-bedroom apartments. The portfolio maintains 99% occupancy with many long-term tenants and provides rents 20-30% below market rates. The $33,345,000 loan will enable the portfolio’s owners to advance their strategic goals while bolstering the housing market in Denver and Colorado Springs, CO.

Spearheaded by Daniel Taylor, Director of Originations at Onyx Funding, the deal showcases the firm’s ability to deliver tailored financing solutions under tight deadlines, navigating complex challenges to secure optimal terms for its clients. “This closing is a testament to Daniel Taylor’s exceptional professionalism, drive, and unwavering determination,” said Shaun Ashkenazy, Founder of Onyx Funding. “Despite numerous hurdles, Daniel and the Onyx Funding team rose to the occasion and executed this transaction in record time. We’re grateful for the trust our client placed in us, as well as the lender’s partnership and confidence in the deal.”

Onyx Funding, headquartered in downtown Miami, FL, has built a reputation as a top commercial real estate financing brokerage with nearly $1 billion in loan originations. Known for their dynamic team and innovative financing strategies, Onyx specializes in helping clients secure the best possible loan terms for their projects and investments. Creativity and problem-solving are core to the firm’s success, setting it apart from the competition.

“We understand that every deal is unique, and our goal is always to deliver not just financing but peace of mind for our clients,” Daniel Taylor added. “This successful closing reinforces our core values: perseverance, expertise, creativity, and client-first approach.”