Colorado apartment owners have spent the last two years watching a record building wave work its way through the market. We review apartment, multifamily, and commercial loans across the state, with interest-only and cash out options for owners who want their building working harder.
Apartment and commercial loans from $1 million to $30 million+
For most of the last decade, cranes were part of the Denver skyline. Developers delivered apartments faster than the city could fill them, and by the start of 2026 metro vacancy had climbed to its highest level in sixteen years. New buildings were offering a month or more free just to get people in the door, and older buildings had to keep up.
Then the story started to turn. Construction has slowed sharply since its 2023 peak, and by the summer of 2026 stabilized vacancy had come down from where it started the year, with parts of the metro like Jefferson County among the tightest in the region. For an owner, that matters. The buildings that held occupancy through the toughest stretch are the ones in the strongest position to refinance, pull cash out, or move to interest-only payments while rents recover.
Capituro reviews loan requests for Colorado apartment buildings, multifamily portfolios, and commercial property, along with high-value short-term rentals in the mountain towns. We spend our time on the property and on what the owner wants the loan to do.
Capituro helps investors close business-purpose financing on multifamily and commercial property. Programs are not available for owner-occupied residential property. Terms and availability vary by deal and can change without notice.
None of these are deal killers. They are the Colorado details we would rather talk through at the start than discover halfway in.
A building can show strong asking rents and still be giving away a few weeks free on every new lease. In Colorado right now, the rent that counts is the rent tenants actually pay after concessions, so that is the number we start with.
The Front Range sits in the middle of hail country, and insurance premiums across the state have moved fast. A current quote on the building, with the actual deductible, keeps everyone working from the same expense line.
Since 2024, most Colorado tenants who have been in place for a year have the right to renew unless the owner has a specific cause, and larger Denver buildings have energy performance requirements to plan around. On the other side of the ledger, Colorado assesses apartment buildings as residential property, a fraction of the rate commercial buildings pay, which helps the expense side of a refinance.
Have a Colorado building in mind?
Send the numbersA Colorado apartment building can need different debt at different points in its life. A bridge loan can carry a property through lease-up or a renovation, and a long-term apartment loan can take over once it is stabilized. When that is the plan, we look at both steps together from the start.
Interest-only payments for up to the full term on a stabilized apartment building, often with more cash out than an amortizing loan allows.
Read program detailsLong-term financing for Colorado apartment buildings from 5 units to 300+, from a garden community in Aurora to a mid-rise near Union Station.
Read program detailsFor owners who want to put the equity in a stabilized apartment or commercial building to work, up to 75% LTV on a refinance.
Read program detailsFor retail, office, warehouse, self storage, mixed use, daycare, automotive, light industrial, and assisted living property where the leases and occupancy support a purchase, refinance, or cash out.
Read program detailsFor a building in transition, whether that means lease-up, renovation, tenant rollover, or a purchase that needs to close before long-term financing makes sense.
Read program detailsFor high-value homes in Aspen, Vail, Breckenridge, Crested Butte, and the other mountain towns where the rental income supports the loan and the local permits are in place.
Read program detailsWe also review 1 to 4 unit rentals across Colorado.
See DSCR loansDenver absorbed more new apartments over the last decade than almost any city its size, and it shows in the concessions. The upside is that the same wave brought a deep bench of renters, and the neighborhoods that never lost occupancy, from Capitol Hill to Lakewood to the Highlands, are where refinances are coming together first.
The Springs runs on a different engine than Denver. Fort Carson, Peterson and Schriever Space Force Bases, and the Air Force Academy keep a steady stream of renters moving in every year, which gives well-run buildings a dependable base even when new supply arrives.
Fort Collins, Loveland, and Greeley have grown into their own apartment market, with Colorado State University anchoring Fort Collins and steady job growth along the I-25 corridor filling buildings from Loveland to Greeley.
In Breckenridge, Vail, Telluride, and Steamboat, the conversation is usually about high-value short-term rentals and the occasional small apartment building for local workforce housing. Seasonality and local permit rules matter here, so monthly history tells the story better than an annual total.
We review deals across all of Colorado, including cities not listed here.
The owner bought or built years ago, the building held its occupancy through the supply wave, and the current loan is amortizing away cash flow the owner would rather have. An interest-only loan with cash out can change how the building pays, without selling it.
The building is close to stabilized, but concessions are still in the rent roll. Sometimes the right answer is a long-term loan today, and sometimes it is a bridge loan now and a long-term loan once the free rent is gone. We would rather lay out both than force one.
Retail on the ground floor, apartments upstairs, in a town like Golden, Longmont, or Castle Rock. These buildings do not fit neatly into one box, and that is the kind of property where choosing the right program makes the biggest difference.
You do not need a polished package to start. A few lines through the contact form with the address, the unit count, and what you want the loan to do is enough for us to tell you whether it is worth a real conversation. If you have a rent roll and operating statement handy, send those too.
Yes. We review apartment and multifamily loans across the state, including Denver, Aurora, Lakewood, Colorado Springs, Fort Collins, Greeley, Pueblo, and the mountain towns. If the building is in Colorado, we are happy to look at it.
Most of the apartment loans we review in Colorado run from $1 million to $30 million and up, on buildings from 5 units to more than 300.
Yes. We review retail, office, warehouse, self storage, mixed use, daycare, automotive, light industrial, and assisted living property across Colorado for purchases, refinances, and cash out.
Yes. Interest-only payments for up to the full term are available on stabilized apartment buildings, and they are often paired with a cash out refinance so the owner keeps more of the building's monthly income.
Our programs go up to 75% LTV on a refinance. The building's income still has to support the new payment, so the real answer depends on the rent roll, the expenses, and what the building is worth today.
Often, yes. We start with the rent tenants are actually paying after concessions. If the building is close to stabilized, a long-term loan may work today. If not, a bridge loan can carry it until the free rent burns off.
Yes, including high-value homes in Breckenridge, Vail, Telluride, Steamboat, and other mountain towns. Local permits need to be in place, and monthly operating history tells the story better than an annual total.
Yes. We review DSCR loans on 1 to 4 unit rentals statewide, from a Denver duplex to a Colorado Springs fourplex.
Send the address, the unit count, and what you want the loan to accomplish. We will take a look and tell you how we would approach it.
Send the numbers