Berkadia announced that it has arranged $81.23 million in joint venture equity for Alexan Pena Station, a to-be-built, 578-unit multifamily development in Denver, Colorado.
Alexan Pena Station, located on the northeast side of Denver, will be built over two phases and spread out over 12 buildings with an average unit size of 976 square feet. Community amenities include two resort-style pools with sun shelves and cabanas, two clubhouses, co-working offices, community garden plots, and a beer garden with outdoor games. As a part of the city’s large development review process, the development will contain a two-acre public park, featuring large and small dog parks, a pickleball court, and a multi-use trail.
The property is located one mile west of the Pena Station light rail stop and affords residents convenient access to Denver International Airport, the Denver Zoo, Coors Field, Fitzsimons Medical Campus, Rose Medical Center, and the shops and restaurants just a short distance from downtown Denver.
Cody Kirkpatrick, Chinmay Bhatt, and Noam Franklin of Berkadia JV Equity & Structured Capital represented the sponsor, Trammell Crow Residential (TCR), to arrange the joint venture equity partnership.
Berkadia arranged the equity through MBK Rental Living, a privately held real estate investment and development firm. MBK is a wholly owned subsidiary of Mitsui & Co., Ltd., a global Fortune 500 company.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
