GreenLake Funds $35,300,000 for KeeTown Loop Development in Waukee, IA

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Sep 13, 2023, 08:54 ET

WAUKEE, Iowa, Sept. 13, 2023 /PRNewswire/ -- Los Angeles based GreenLake Asset Management LLC ("GreenLake") has funded a $35,300,000 construction loan for KeeTown Loop in Waukee, IA.

KeeTown Loop is a 40-acre master-planned entertainment district, anchored by a 3,500 seat Live Nation concert venue. The development will also feature an 88-unit apartment complex and two hotels: Aloft Hotel by Marriott and Home2 Suites by Hilton. In addition, there will be 22,000 square feet of office space and 51,000 square feet of retail. Starbucks and McDonald's are currently under construction and future plans include restaurants, a microbrewery and a variety of other retail concepts. GreenLake's funding will allow the sponsor to complete construction of the Live Nation venue and to purchase the land to be used for parking.

Peter Chang, Managing Principal at GreenLake stated, "The borrower has a long track record in diverse commercial development throughout the Midwest. The team has a great relationship with the City of Waukee and the necessary expertise to execute and stabilize this large-scale master development. With Live Nation as a strong anchor, we are confident that KeeTown Loop will thrive in the rapidly growing West Des Moines region."

Founded in 2008, GreenLake Asset Management LLC and its affiliates provide short-term commercial bridge loans nationwide. GreenLake offers creative, flexible and time-sensitive capital solutions for a broad spectrum of real estate special situations. GreenLake lends across a range of asset classes including hospitality, industrial, multi-family, self-storage, mixed-use, office and retail.

Contact:

Kamau Coleman
Director, Originations
626.529.1084
[email protected]

Adam Frank
Vice President, Originations
646.766.0288
[email protected]

Renee Volaric
Vice President, Originations
646.766.0286
[email protected]

www.greenlakefund.com

SOURCE GreenLake Asset Management LLC