Alexan Pena Station in Denver

Berkadia Arranges $81.2 Million in Joint Venture Equity for Alexan Pena Station in Denver

by Channing Hamilton

DENVER — Berkadia has negotiated $81.2 million in joint venture equity for the development of Alexan Pena Station, a 578-unit development in Denver.

Trammel Crow Residential was the sponsor. Cody Kirkpatrick, Chinmay Bhatt and Noam Franklin of Berkadia JV Equity & Structured Capital arranged the joint venture equity partnership on behalf of the sponsor. Berkadia secured the equity through MBK Rental Living, a privately held real estate investment and development firm.

Alexan Pena Station will comprise 12 buildings on a 20-acre site. The community will offer one-, two- and three-bedroom floor plans with an average unit size of 976 square feet. Of the total unit count, 46 will be set aside as affordable housing for individuals earning up to 60 percent of the area median income. The property will also include more than 725 parking spaces. The project will be constructed in two phases.

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