DENVER — A joint venture between Trammell Crow Residential (TCR) and Cigna has received a $75 million loan for the refinancing of One Seven at Belleview Station, a 250-unit mixed-use community located at 4882 S Newport St. in Denver. The borrowers will use the funds to retire the original bank construction loan.
One Seven at Belleview Station consists of 215,526 square feet of residential space, as well as 7,062 square feet of fully leased retail space. The community offers a mix of studio, one-, two- and three-bedroom apartments with an average size of 862 square feet. Residents have access to amenities such as a pool deck, remote work center, clubroom, wellness center, bike storage, pet spa and theater room. The property is currently 69 percent leased.
The community is located within the Belleview Station master-planned development, which also features 2.2 million square feet of Class A office space, as well as 300,000 square feet of retail and access to the Belleview RTD light rail station.
Leon McBroom and Mark Erland of JLL Capital Markets arranged the three-year, floating-rate loan through a national life insurance company. JLL previously assisted TCR with the joint venture partnership capitalization.