Trammell Crow Lands $81M for Denver Project

A rendering of Alexan Pena Station. Image courtesy of Berkadia

Trammell Crow Residential has obtained $81.2 million in joint venture equity to develop Alexan Pena Station, a multifamily property to be built in Denver, Colo. The 578-unit two-phase development will comprise a dozen buildings. Apartments will average 976 square feet.

With a location at the southwest corner of 64th Ave. and Dunkirk Street, Alexan Pena Station will be developed on a 20-acre parcel and offer 725 parking spaces. The community will feature one-, two- and three-bedroom layouts. Among the residences will be 46 affordable units, which will be available to those earning 60 percent of the area median income.

Berkadia arranged the equity through privately held real estate investment and development firm MBK Rental Living, a wholly-owned subsidiary of Mitsui & Co. Cody Kirkpatrick, Chinmay Bhatt, and Noam Franklin of Berkadia JV Equity & Structured Capital represented Trammell Crow.

Easy access

Amenities at the property will include a two-acre public park, large and small dog parks and a pickleball court.

Alexan Pena Station will be situated a mile west of the Pena Station light rail stop. It will allow residents quick and easy access to Denver International Airport, as well as the Denver Zoo, Coors Field, Fitzsimmons Medical Campus, Rose Medical Center and a number of retail and dining venues located a short distance from Downtown Denver.

Last month, Hudson Grove paid $33 million to acquire the 156-unit Belle Creek Apartments in the Denver suburb of Henderson, Colo.