BROOMFIELD, CO – Titan Development and Pivot Development, leading real estate development and investment firms, have formed a joint venture to close on a new $80 million multifamily development in the Interlocken Technology Park within the MidCities District of Broomfield, Colorado, a suburb of Denver. The project is located directly off the Boulder turnpike, an vital area thoroughfare.
Located on a 3.3-acre land parcel within the highly desirable Interlocken area, the new 254-unit luxury apartment complex is called The Lock at Flatirons and will feature upgraded fixtures and finishes in all units, a sky lounge, fitness center, resort style pool, bike storage and stations, secure access parking, technology packages throughout the property and co-working space. The new development is within walking distance from a number of retail, restaurant, and grocery amenities. The new project is uniquely situated at the midpoint between Denver and Boulder, giving future tenants simple access to both cities and nearby employers, including Oracle, CenturyLink, Ball Corporation, Salesforce, Uber, Vail Resorts and Urban Lending Solutions—all representing more than 7,000 jobs.
“This is an vital investment for Titan’s private equity platform,” said Ben Spencer, Fund Manager and Partner at Titan Development. “We are excited to partner with Pivot and Olympus Property to deliver on a fantastic project in this quick-growing market.” Olympus Property is a full-service, multifamily investment group and an equity investor in the project.
Titan and Pivot will work closely together to bring the project to fruition. Construction is expected to start in the third quarter 2021, with completion plotted within approximately 28 months.
“Broomfield is a market that has interested us for a while. The Lock at Flatirons not only provides much-needed housing for the influx of young professionals working at Interlocken Technology Park and Westmoor Technology Park, but also adds luxury options for the broader Broomfield community. With this location we are blending the amenities and excitement of urban living with the convenience and comfort of suburban living, offering the live-work-play lifestyle our residents desire,” L. Matthew Hare, President and CIO at Pivot Development, said. “Pivot worked on this project for 18 months before the collaboration with Titan came together, along with our team of consultants and the City of Broomfield, to bring The Lock at Flatirons to life. We are very excited for our new collaborative relationship with Titan & Olympus Property.”
The Lock at Flatirons is among many other high-end projects that Titan is plotting and developing in the region via its Titan Development Real Estate Fund II (TDREF II), which closed in February of this year and is already 50% committed. Titan’s previous fund is nearing completion, with more than 70% of the $112 million portfolio completed. Additional funds are coming soon and will support Titan’s growing pipeline of multifamily and industrial projects.
“The Lock at Flatirons comes at a crucial time for Denver-area residents, as the local multifamily market has overwhelming demand,” Josh Rogers, Vice President of Development at Titan Development, said, referring to Denver’s burgeoning multifamily investment market, which puts Denver among the top 10 cities in the nation–even landing on the No. 1 spot for high-income renters, according to a new study published this year. “The ongoing housing shortage has also fueled rising rents,” Josh continued. “Our Fund is investing in multifamily projects, like The Lock at Flatirons, and providing an attractive solution to these challenges.”
Titan has a strong multifamily track-record, completing eight projects, for a total of 1,772 units, at a development cost of $246 million. In addition, Titan is currently constructing three multifamily projects with a total development cost of $147 million in New Mexico; and it has five multifamily projects in the plotting stages in New Mexico and Colorado, while evaluating additional multifamily projects in Texas.

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FREDERICK, MD – EquityPlus announces the opening of Ox Fibre Apartments, an 83-unit workforce housing rental complex that is an adaptive re-use of an abandoned paint-brush factory in Frederick, Maryland.
Lt Governor Boyd Rutherford, County Executive Jan Gardner, Mayor Michael O’Connor, and Secretary (Maryland DHCD) Kenneth Holt were all present at the ribbon cutting that was held on July 22,2021.
Ox Fibre of Frederick will provide affordable rental housing for the working-class population of the City of Frederick and Frederick County. The building is 80,000 square feet, providing for a total of 83 units to be built, all with a comfortable amount of square footage. Rent is priced at 20% below market which effectively provides an affordable housing option to those in the appropriate income range, helping address the need for affordable housing within the booming city of Frederick. Units are available to individuals and families earning 40%-60% of the present Area Median Income (AMI).
The 83 units consist of 1-, 2-, and 3- bedroom loft apartments ranging from 500-1,500 sq. feet. All apartment units are newly constructed and quartz countertops, stainless steel appliances, in-home washers and dryers, new windows, and additional amenities. There are six 1-bedroom floorplans, three 2-bedroom floorplans, and two 3-bedroom floorplans from which to choose.
The project’s development team is led by EquityPlus LLC, an experienced affordable housing developer with offices in Mississippi and Virginia. To fund the project, EquityPlus utilized a combination of LIHTC and HTC equity along with mortgage financing. The firm also raised opportunity zone equity from private investors (Broad Creek Capital) and received subordinate, below-market financing from both the State of Maryland and Frederick County to help complete the project’s ~$25 million capital stack.
The project is one of the first in the nation to combine the LIHTC program with the Opportunity Zone program utilizing different equity investors for each source of equity.
The project has a 1,300 person interest list for pre-leasing.

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BOYNTON BEACH, FL – An affiliate of Walton Street Capital announced that it has bought a newly built 324-unit apartment complex located at 1100 Audace Avenue in Boynton Beach, Florida.
Completed in 2020, the property consists of one-, two-, and three-bedroom apartments across six mid-rise elevator buildings that are currently 99% leased. It features modern amenities and contemporary interior finishes. Unit finishes include 9.6 ft. ceilings, private balcony/patios, soft-close Italian cabinetry, open-concept kitchen with quartz islands and stainless-steel appliances. Community amenities feature a two-tale, resort-style clubhouse overlooking a pool, two parks with ample green space, playground, game room, kitchen/bar, state-of-the-art fitness center with yoga room and spin studio, conference rooms, and Luxer One automated package system.
Pacifica is situated in downtown Boynton Beach adjacent to the Town Square complex and features immediate access to I-95 making it a 40-minute drive from downtown Fort Lauderdale and a 15-minute drive to downtown West Palm Beach. Residents at Pacifica delight in the property s proximity to parks and beaches along with the variety of shopping and dining options nearby.
This was an attractive opportunity to buy a high-quality, well-leased, and newly built multifamily asset in a growing South Florida market in a direct transaction with the developer. We are excited to further expand our multifamily and housing portfolio in markets that are demonstrating strong employment and population growth, said Stephen Sotoloff, Senior Principal at Walton Street.

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