Denver Apartment Owner Scores $83.8M Refi
Newmark facilitated $83.8 million in financing for The Deveraux, a newly constructed, 374-unit trophy multifamily community with 21,000 square feet of Class A retail space located in the River North (RiNo) neighborhood of Denver, Colorado.
Commercial Edge reports the brokerage firm facilitated the three-year note through BMO Bank. Holland Partner Group owns the community. Previous debt consisted of an $82.5 million construction loan issued by Capital One in 2021.
The Deveraux debuted in 2024, featuring studio, one-, and two-bedroom floorplans that average 732 square feet, as well as 21,000 square feet of Class A retail space. Units include keyless entries, while select apartments encompass 9-foot ceilings and balconies or patios. Community amenities include coworking spaces, an outdoor lounge, a swimming pool, EV charging stations, and bicycle storage.
Newmark’s Lee Redmond and Nick Schroeder arranged the debt placement.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout