Longmont, Colorado – November 2022 – The Forum Structured Finance Team at Forum Capital Advisors LLC, a Denver-based real estate investment and asset management firm, along with development partner, Mass Equities Inc, announced that is has closed on a preferred equity investment supporting the development of a 20-unit, for-rent townhome project located at 210 Emery Street, in downtown Longmont, CO and across the street from South Main Station.
“Forum is thrilled to support this development, which is expected to add additional residential units in the growing area of South Main Station in downtown Longmont,” said Joshua Manning, Senior Director – Investments. “We believe this project will offer tenants the unique opportunity to rent a private townhome downtown, that is walkable to Old Town and the amenities at South Main Station."
Once completed, the project is intended to consist of two, 3-story residential buildings with 20 for-rent townhomes. Each townhome is planned to feature 2 bedrooms and a flex/office space, along with 2.5 bathrooms and a 1-car garage. The townhomes will be managed as an extension of the neighboring South Main Station, allowing residents access to amenity spaces. The adjacent community also features a pizzeria, dog day care, local brewery, distillery, and future bakery and food hall that is under development as well.
Downtown Longmont provides renters accessibility, being a 10-minute walk from local restaurants and retailers, a 10-minute drive from grocery stores and big box retail, and a 30-minute drive from Boulder. We believe this area has benefitted from the proximity to Boulder and the presence of major employers such as General Electric, Google, IBM and Lockheed Martin.
“Forum is excited to partner with Mass Equities on this development opportunity,” said Joe Chickey, Managing Director – Structured Finance. “They are an experienced local sponsor that has worked with the city of Longmont on various phases of the greater South Main Station redevelopment since 2015. We believe the new townhomes will add to what is already an established mixed-use destination on Main Street.”
About Forum Investment Group
Forum Investment Group* is an innovative asset management firm that provides access and expertise to multifamily investments up and down the capital stack and throughout economic cycles. The firm specializes in multifamily acquisitions, developments, real estate debt, and structured finance solutions for owners, operators and developers across the U.S. Since 2007, Forum has built a track record that seeks to generate reliable current income with an attractive risk/return profile. For more information, visit www.forumcapadvisors.com.