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RXR team secures $125M construction financing for Denver multifamily
The project, AVE Station House, will deliver 271 market-rate units, 30 affordable units, and more than 6,200 square feet of ground-floor retail space.
RXR, alongside 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, according to ConnectCRE.
The financing includes a $100 million senior loan from Madison Realty Capital and a $25 million mezzanine loan from an insurance company.
The development plans call for 271 market-rate apartments and 30 affordable units, plus more than 6,200 square feet of ground-floor retail space and approximately 290 secured parking spaces.
Upon completion, AVE Station House will offer studio through three-bedroom residences, with work-from-home spaces in each unit and an amenity package that includes a rooftop pool and lounge, fitness center, and a spa with sauna and steam.