CRE Permanent in Boulder

Stabilized, income-producing property with a signed rent roll, most credibly anchored to the university or the federal science cluster rather than speculative retail. The University of Colorado Boulder enrolled 38,808 students in fall 2025, and NIST, NOAA and NCAR run federal laboratories in the city, tenants that are not cyclical. No Boulder cap-rate figure for any asset class has been sourced, so a permanent quote here is built from your executed leases and net operating income, not a market survey.

Yes. Purpose-built student housing is the asset class most directly repriced by that repeal. Boulder raised its unrelated-occupant cap from three to five in August 2023, and Boulder City Council repealed the occupancy limit outright on March 6, 2025, so a private house near campus can now legally compete on a per-bedroom basis without the cap that used to protect purpose-built student housing from that competition. The city still enforces International Property Maintenance Code minimums, a bedroom of at least 70 square feet and 50 square feet per occupant, on any unit. A permanent loan on a purpose-built asset here should be underwritten against that changed competitive set, not the pre-2025 market.

Your building carries the same tax-area mill levy as any other parcel in that district, but Colorado assesses it at a much higher share of value. Non-residential property, including commercial buildings, is assessed at 27% of actual value for tax year 2025, against roughly 7% for residential. Boulder County's tax-area mill levies run from 70.836 to 199.108 across 354 tax areas, and within the City of Boulder itself the range is a narrower 86.884 to 105.141. Confirm the specific tax area a parcel sits in, not just the town, before sizing debt service.

Not until it has a signed rent roll, but that doesn't mean you wait to talk to us. Permanent debt is priced against actual leases and net operating income, so an asset that's still leasing up doesn't fit it yet. We can carry that property on a bridge loan instead and refinance it into permanent debt once it stabilizes, which matters in a market where the greenbelt and the city's water-service boundary mean there's no new competing ground coming online to help you lease up faster.

Along the Highway 36 interchange corridor through Louisville and Superior, and in Boulder's own east-side commercial parks. The greenbelt that rings the city, more than 46,640 acres held by Boulder's Open Space and Mountain Parks department, means there is no new ground competing with that existing stock. No Boulder-area CRE vacancy, rent or cap-rate figures have been sourced for any asset class, so treat that geography as structural context, not a market statistic.

No usable cap-rate figure for any Boulder asset class has been sourced, so we do not publish one. Be skeptical of a round number quoted online. We underwrite off your actual leases, tenant credit and net operating income instead. If your property isn't leased up yet, a bridge loan can carry it through stabilization, and we place the permanent structure once the rent roll is signed.

Permanent (or perm) financing is long-term debt on a stabilized commercial property, the loan you move into once a building is leased up and performing. It replaces short-term bridge or construction debt with a longer fixed term and a lower rate.

We place permanent debt through agency multifamily programs (Fannie Mae and Freddie Mac), insurance companies, and other wholesale lenders. Because we shop multiple sources, we can match your asset to the program with the best long-term terms.

Stabilized multifamily of five units and up, plus mixed-use and other commercial assets with a solid operating history. Agency multifamily in particular looks for occupancy and cash flow that support long-term debt.

The bridge program is short-term capital to acquire or reposition a property; permanent financing is the long-term exit once it is stabilized. Many investors use both in sequence, bridging to stabilize and then refinancing into permanent debt. We can line up both.

Permanent commercial rates run well below bridge pricing and move with the agency and wholesale market, on long fixed terms. The exact rate depends on the asset, the program, and current conditions, and we will walk you through the options.

Plan on several weeks, since agency and wholesale permanent loans require full underwriting, third-party reports, and lender approval. We manage the placement and keep one point of contact on your file from quote to close.