Newmark Knight Frank Secures $47M for Luxury Denver Asset
- Jul 16, 2020
Newmark Knight Frank has secured $47.4 million in Freddie Mac refinancing for Encore Evans Station, a 224-unit luxury community in Denver’s South Broadway District. NKF Senior Managing Director Tim Weldon of the firm’s Denver office led the financing team working on behalf of the borrower, Treeline Multifamily Partners. According to Yardi Matrix data, the owner purchased the Class A property for $70 million in December 2019, taking out a $45.5 million loan from Hunt Real Estate Capital for the acquisition.
Encore Evans Station occupies some 4.7 acres at 1805 S. Bannock St. in the Platt Park neighborhood. The high-end community consists of seven three-story buildings completed in 2018, Yardi Matrix shows. The unit mix features one- and two-bedroom floorplans averaging 875 square feet. Amenities include a resort-style pool and spa, fitness center, indoor dog wash, business center and clubroom. Mission Rock Residential manages the property.
Located 4 miles south of downtown Denver, the community is across from Overland Golf Course in the South Broadway District, an area filled with boutique shops and restaurants. The RTD Evans Light Rail Station is four blocks south.
In March, an NKF team brokered the sale of a 244-unit luxury community in Colorado Springs, Colo. Executive Managing Director Kevin McKenna and Director Saul Levy assisted Watermark Residential in the disposition.