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Trammell Crow Residential & Cigna Secures $75 Million Refinance Loan For Denver Multifamily Asset

Property Image
FINANCED
$75,000,000
Leon McBroom
Mark Erland

Colorado

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MultiFamily
Financed 01/15/2025
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Property Image
FINANCED

Trammell Crow Residential & Cigna Secures $75 Million Refinance Loan For Denver Multifamily Asset

4882 South Newport Street

See Similar Deals
MultiFamily
Financed 01/15/2025
Leon McBroom
Mark Erland
the dealplayerscompscontact
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Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involves a multifamily community located at 4882 South Newport Street in Denver, CO. Trammell Crow Residential and Cigna have secured a loan of $75 million to refinance the property. The financing is structured as a three-year, floating-rate loan intended to supplant the original construction loan.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $75,000,000
  • Loan Type: Refinance
  • Loan Terms: three-year, floating-rate loan
  • Landlord: Trammell Crow Residential & Cigna
  • Address: 4882 South Newport Street
  • Market: Denver, CO
  • Brokers: Leon McBroom & Mark Erland - JLL

This refinancing deal was facilitated by JLL Capital Markets, ensuring the transition from the original construction financing to the new loan arrangement. The key stakeholders in this transaction include Trammell Crow Residential and Cigna as the landlords, along with Leon McBroom and Mark Erland representing the brokers involved.

Players

Mark Erland
JLL
Mark Erland
5 deals$312.8M volume
BROKER
Leon McBroom
JLL
Leon McBroom
7 deals$543.5M volume
BROKER

Details

FINANCED
IMAGE: 01/15/2025 ADDRESS: 4882 South Newport Street MARKET: Denver, CO ASSET TYPE: MultiFamily LANDLORD: Trammell Crow Residential & Cigna BROKERS: Leon McBroom & Mark Erland - JLL LOAN AMOUNT: $75,000,000 LOAN TYPE: Refinance LOAN TERMS: three-year, floating-rate loan NOTE: Trammell Crow Residential and Cigna secured $75 million in refinancing for One Seven at Belleview Station, a multifamily community in Denver. The three-year, floating-rate loan will replace the original construction loan and was arranged by JLL Capital Markets.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00