JLL Capital Markets announced that it has secured a $75 million refinancing for One Seven at Belleview Station, a 250-unit luxury mixed-use community in Denver, Colorado.
JLL represented the borrowers, Trammell Crow Residential and Cigna, in arranging the three-year, floating-rate loan through a national life insurance company. JLL had earlier assisted TCR with the JV partnership capitalization. The refinancing will retire the original bank construction loan. JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Leon McBroom and Managing Director Mark Erland.
One Seven at Belleview Station, located at 4882 S Newport Street, is strategically positioned within the dynamic Belleview Station master-planned development, offering residents unparalleled access to 2.2 million square feet of Class A office space, 300,000 square feet of retail and the Belleview RTD light rail station. Situated just steps from I-25 and I-225, the location provides convenient commuting to Downtown Denver, Colorado Springs, Fort Collins and Denver International Airport, while also being at the heart of Colorado’s largest employment center, the Southeast Business Corridor.
Spanning 0.914 acres, the community comprises 215,526 square feet of residential space and 7,062 square feet of fully leased retail area. One Seven at Belleview Station offers a mix of studios, one-, two- and three-bedroom units with an average size of 862 square feet, boasting high-end finishes such nine and a half foot ceilings, wood vinyl plank flooring, Bluetooth-enabled entry doors, roller shades, stainless steel appliances and quartz countertops along with private balconies. Residents enjoy an array of luxurious community amenities, including a large roof-top pool deck, remote work center, clubroom, wellness center, bike storage, pet spa and theater room.
”Kudos to TCR and Cigna for developing a best-in-class multifamily asset,” said McBroom. “The quality of the asset and location, in conjuncture with high-calibre sponsorship, produced an incredible amount of lender interest.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
