DENVER — The 302-unit One City Block apartment community in Denver has received a $57-million loan. The community is located at 444 East 19th Ave. in Downtown Denver’s Uptown neighborhood.
The property was completed in January 2014. It features 207,598 square feet of residential space and 10,035 square of ground-floor retail.
One City Block is currently 95 percent leased. Community amenities include a lap pool with sun deck and hot tub, grilling areas, fire pit, sport court with practice putting green, four rooftop terraces, fitness center, yoga studio, game room with ping pong and pool table, demonstration kitchen, on-site bike repair shop and pet spa.
The fixed-rate loan proceeds will replace the borrower’s existing construction loan. Financing was arranged by HFF’s Eric Tupler, Josh Simon and Leon McBroom, on behalf of RedPeak Properties. The loan was placed with Cornerstone Real Estate Advisers LLC, which acted on behalf of an institutional client.