RXR-Led Team Lands Construction Financing for 301-Unit Denver Rental Community
RXR, together with Halpern Real Estate Investments, Korman Communities and Invent Development Partners, secured $125 million in construction financing for AVE Station House, a 301-unit luxury multifamily development in Denver, Colorado. The property was financed with a $100 million senior loan from Madison Realty Capital and a $25 million mezzanine loan from an insurance company.
The development comprises 271 market-rate apartments and 30 affordable units, along with more than 6,200 square feet of ground-floor retail space and approximately 290 secured parking spaces.
Upon completion, AVE Station House will offer a mix of studio, one-bedroom, two-bedroom, and three-bedroom residences. Each apartment will feature work-from-home spaces.
Residents will have access to an extensive amenity package including a rooftop pool and lounge, fitness center, spa with sauna and steam.
JLL Capital Markets’ Debt Advisory team, led by Leon McBroom, Michael Gigliotti, Will Haass and Ellie Savage, represented the borrower, as well as Paul Patafio of Hudson Realty Capital, who represented the borrower in arranging financing for the project
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
Learn more
Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout