Griffis Lands $40M Refi for Denver Community

Griffis Residential has secured $40 million in refinancing for Griffis Belleview Station, a 238-unit, garden-style community in Denver. JLL Capital Markets arranged the 7-year, fixed-rate loan on behalf of the borrower.

The deal was sealed through a life correspondent company lender. At the time, the property was almost 95 percent leased.

Griffis Belleview Station sits at 4400 S. Monaco St., just west of Valley Highway and within walking distance of Belleview rail station. Downtown Denver is roughly 10 miles northwest.

The property is adjacent to the Belleview Station master-planned development, set to include more than 2 million square feet of office space, 300,000 square feet of retail and two hotels.

JLL Capital Markets Senior Director Kevin Barron, Executive Managing Director Eric Tupler and Associate Jake Martin brokered the transaction on behalf of Griffis Residential.

A Denver transit-oriented community

Built in 1999, Griffis Belleview Station comprises apartments and townhomes across 11 three-story buildings on 11 acres. All units have washers and dryers, with some including fireplaces, private balconies or patios. Floorplans average 996 square feet.

Shared amenities at the pet-friendly community feature a swimming pool, a spa, a fitness center, a dog park, outdoor grills and a clubhouse. The property is currently managed by Griffis Residential.

Another notable Denver refinancing in recent months belonged to Greystar. The firm secured a $50.2 million loan for Thayne Brigthon, a 288-unit community Brighton, Colo. That note is set to mature in 2031.