Knighthead Funding LLC has provided a $20 million construction loan for Edge LoHi, a 44-unit luxury condo development in Denver. The company worked on behalf of real estate developer Alpine Investments. HFF Directors Leon McBroom and Brock Yaffe represented the developer.
Upon completion in 2019, Edge LoHi is set to offer a mix of one-, two- and three-bedroom units ranging from 650 to roughly 2,500 square feet. In-unit amenities are slated to include walk-in closets, quartz countertops, balconies, wide plank flooring and premium appliances.
Located at 1735 Central St., north of Interstate 25, the development will feature 4,200 square feet of street-level retail and two-story loft-style penthouses on the fifth floor, each including a built-in fireplace, a 17-foot floor-to-ceiling glass line, private terraces and a kitchen with stainless steel appliances. Common-area amenities are set to include:
- dog spa
- storage units
- bike storage
- repair room
- lobby lounge with fireplace and bar
“It is no secret that Denver boasts one of the strongest economies in the U.S., yet it is one of the most undersupplied condo markets among the major U.S. metros,” Knighthead Principal Jonathan Daniel said in a prepared statement. “Much of the city’s impressive job growth is occurring downtown with the creation of thousands of new high paying jobs, particularly in the technology sector, which has exploded over the past five years.”
The community was 35 percent pre-sold when the financing was secured. Cuningham Group Denver is the architect, while State Real Estate Advisors is the official listing agent.
Rendering courtesy of HFF