Denver mid-rise multi-housing complex secures $27.5M senior financing

DENVER, Dec. 5, 2024 –  JLL Capital Markets announced that it has secured a $27.5 million financing for Kabin Apartments, 194-unit modern multifamily community in Denver's vibrant River North Art District, in Colorado.

JLL represented the borrower, a joint-venture between Trailbreak Partners and Quannah Partners, in arranging a fixed-rate loan.

Kabin Apartments is strategically located at 2095 31st St., in one of the city's hippest and fastest-growing neighborhoods. The property is nestled on the southern end of the 28-acre TAXI campus, a mature mixed-use redevelopment filled with creative businesses, unmatched amenities and access to bike paths and the natural beauty of the Platte River. Kabin's location provides excellent access to downtown Denver and major transportation routes, including I-25 and I-70, as well as being within walking distance of the 38th & Blake RTD Light Rail Station.

Denver, a thriving metropolis with a population of 3.2 million, offers a dynamic and diverse economic landscape that attracts young professionals and entrepreneurs alike. With a median age of 37.7 years and an impressive average household income of $99,015 within a one-mile radius of Kabin Apartments, the city boasts a highly educated workforce that fuels its entrepreneurial business environment. Denver's commitment to sustainability and quality of life has earned it recognition as the #5 best city for young professionals and the #8 most sustainable city nationwide, making it an increasingly attractive destination for both residents and businesses seeking a balanced urban experience.

Kabin Apartments, a modern four-story multifamily complex built in 2020, offers a mix of one- and two-bedroom units, each featuring stunning mountain or city views, sleek concrete floors and unique operable glass garage doors that blend indoor and outdoor living. Residents enjoy spacious 10-foot ceilings and warm cedar wood finishes, creating a contemporary yet cozy atmosphere. As part of the TAXI campus, Kabin residents have access to an array of exceptional amenities, including multiple dog parks, a state-of-the-art fitness center with personal training and massage services, beach volleyball and basketball courts and a distinctive shipping container pool.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Director Robert Bova.

"Kabin Apartments offers a unique and fresh take on community living, providing residents with a secure and walkable campus environment. The property stands out for its commitment to sustainable living, offering more affordable monthly rents compared to other options in the area, while still maintaining a high-quality lifestyle,” commented Bova.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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