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| Elowyn Townhomes, a 211-unit townhome community in southwestern Denver, CO |
DENVER, CO – JLL Capital Markets has secured a $51.116 million financing for Elowyn Townhomes, a 211-unit townhome community in southwestern Denver, Colorado.
JLL worked on behalf of the
borrower, RedPeak Properties, to originate the five-year, fixed-rate, full-term
interest only Fannie Mae loan. The loan will be serviced by JLL Real Estate
Capital, LLC.
“RedPeak did an
absolutely tremendous job in fully renovating this very unique 1975 vintage
asset that offers large units with new finishes throughout, full basements and
private back yards. JLL is thrilled to be involved in this financing with
such a great local owner and operator,” said Tony Nargi.
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| Tony Nargi |
Situated at 4725 W Quincy Ave, Elowyn Townhomes boasts a prime location that offers convenient access to RTE-286, US-85 and I-25.
Positioned just a few miles southwest of the Denver CBD, residents of this community enjoy proximity to the Denver Tech Center, Denver's largest employment hub.
Being the most populous city in Colorado, Denver's multifamily market is showing signs of stability and growth.
The vacancy rate stands at 5.55%, with 9,349 units absorbed in the past year. Rent growth has slowed due to increased supply, but still experienced 1.20% year-over-year growth.
The construction pipeline is shrinking, and investor
demand is rebounding. In the West Denver Submarket, which offers an affordable
alternative to downtown, net absorption remains elevated with a vacancy rate of
5.31%. This area is attracting young professionals and families with its
proximity to downtown and a vibrant mix of amenities.
JLL Capital Market’s Debt
Advisory team representing the borrower was led by Managing Director Tony
Nargi and Executive Managing Director Eric Tupler.
Eric Tupler
For more news, videos and
research resources, please visit JLL’s newsroom.
CONTACT:
Gréta Kieras,
Senior Associate,
Public Relations
Phone: +1 949
930 8498
Email: greta.kieras@jll.com
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