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.Â
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
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