Subject: RLE
Forum Investment Group and Mass Equities Acquire Land in Erie, Colorado for Future Multifamily Development
Project to Feature 206 Apartment Units on a 4.5-Acre Site Located within Erie Town Center Master Plan
DENVER, May 31, 2023 /PRNewswire/ -- Forum Investment Group LLC ("Forum"), a Denver-based real estate development and investment firm, along with co-general partner, Mass Equities Inc. ("MEQ"), announced the purchase of a 4.5-acre site with plans to develop a six-building, 206-unit, multifamily community, named Antelo, in the Denver submarket of Erie, Colorado.
"Forum is excited to partner with MEQ on this development opportunity," said Rich Wilson, Forum's Senior Managing Director of Development. "We believe the Erie submarket is currently underserved, with projected population growth of approximately 17% over the next five years1. The site is close to large employment hubs, nearby markets of Denver, Broomfield, and Boulder, and is part of a larger master-planned community for the Erie Town Center. We look forward to contributing to the growth of this market with a thoughtfully designed residential community across from a future public park and adjacent to future walkable retail."
"We too are excited to partner with Forum on this unique development." Said Brian Bair, Principal at Mass Equities, Inc. "We believe Antelo will bring attractive, higher-end apartments to the larger community of townhomes and single-family residences being built at Erie Corner. The mix of housing types, pocket parks, and new commercial buildings built at Erie Corner intend to create a vibrant, walkable community that connects the neighborhoods to the west and the existing commercial and recreation facilities along Erie Parkway."
Once complete (projected for 2026), Antelo is intended to consist of 206 market-rate rental units ranging from studios to two-bedrooms. The community will feature indoor and outdoor amenities such as an outdoor pool and spa with firepit lounges, outdoor grilling and entertainment areas, as well as a fully-equipped fitness studio, clubroom lounge, pet spa, and ample shared meeting and work-from-home pods for residents.
About Forum
Forum Investment Group LLC is primarily comprised of Forum Capital Advisors LLC and FCA Capital Markets LLC, and is affiliated with Forum Real Estate Group, LLC, and FDG Project Management Services, LLC (collectively, "Forum"). Forum 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.
1 Source: Town of Erie, Economic Development, 3.3% projected annual population growth by 2028, as of May 2023. https://www.erieco.gov/ArchiveCenter/ViewFile/Item/4154
About MEQ
MEQ is a boutique private-equity real estate investment firm that develops projects across a broad spectrum of real estate asset classes and markets. MEQ's strategic approach is guided by decades of successful real estate investing via both private and public companies and throughout many real estate cycles. The company is headquartered in Southern California with offices in Las Vegas, Nevada and Niwot, Colorado.
Contact:
Siobhan Sargent
Forum Investment Group LLC
303.501.8850
SOURCE Forum Investment Group
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