Done Deals: JLL Capital Markets brokers $99M refinancing of the 282-unit The Fitzgerald apartments in the LoDo neighborhood of downtown Denver, CO

Sunday, November 19, 2023

JLL Capital Markets brokers $99M refinancing of the 282-unit The Fitzgerald apartments in the LoDo neighborhood of downtown Denver, CO

The Fitzgerald, a 282-unit, 11-story luxury apartment
community in the LoDo neighborhood
of downtown Denver, CO

DENVER, CO – JLL Capital Markets has arranged the $99 million refinancing of The Fitzgerald, a 282-unit, 11-story luxury apartment community in the LoDo neighborhood of downtown Denver, Colorado.

JLL represented the borrower, Greystar, to secure a floating-rate, three-year loan through Otera Capital.

Charles Halladay

Built in 2022, the studio, one- and two-bedroom units feature stainless steel appliances, quartz countertops, wood style flooring and an average size of 963 square feet.

Community amenities include an indoor/outdoor fitness and wellness studio, an onsite retail collection, coworking spaces and private meeting rooms, pool deck and spa and a social lounge with BBQs, fire pits and TVs.

Situated at 1840 Market St., The Fitzgerald spans an entire city block between 18th Street and 19th Street and offers walkability to LoDo’s best shops, cafes, restaurants and entertainment.

Within five minutes of the property are other popular neighborhoods, including Larimer Square, Union Station, LoHi, RiNo, Platte Street, Cherry Creek and the Golden Triangle.

Jordan Angel

As a part of Denver’s Central Business District, The Fitzgerald is within a 1.5-mile radius of 1.8 million square feet of under-construction office space, and residents benefit from the over 161,000 jobs in downtown Denver.

The property’s location also provides residents numerous nearby transit options, such as Denver Union Station, the free 16th Street MallRide, the central hub of RTD’s Light Rail System and the downtown Denver circulator bus.

Additionally, both MacGregor Square Entertainment Complex and Coors Field, home of the Colorado Rockies, are within proximity of the community.

Andrew (Andy) Scott

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Charles Halladay, Jordan Angel and Andy Scott, Director Rob Bova and Associate Ethan Habecker.

“The Fitzgerald’s location, quality, and amenity offering created significant demand from lenders. Despite a higher interest rate environment, best-in-class borrowers, such as Greystar, have many options for financing high-quality housing projects.

"We are deeply grateful to Greystar for putting their trust in JLL to finance this asset for them and Otera for being a great partner,” said Angel.

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