Trez Capital Secures 2 Construction Loans
The 136-unit property and the 123-unit community are part of a five-property project developed in a partnership between Trez Capital and NexMetro.
Trez Capital has closed two construction loans for two multifamily properties located in Denver: Avilla Prairie Center, a 136-unit community and Avilla Buffalo Run, a 123-unit property. The loan surpasses the $100 million for the five-property project agreement between Trez Capital and NexMetro.
Avilla Prairie Center will feature a mix of one-, two- and three-bedroom units including granite/quartz countertops, stainless steel appliances and common-area amenities such as an outdoor patio and backyard, resort-style swimming pool, recreation areas and electric car charging station.
Located at 11940 Jasper St., in Commerce City, Colo., the Avilla Buffalo Run community will include one-, two- and three-bedroom units with common-area amenities including a swimming pool, spa, covered ramada, dog park and gathering spaces. Both properties are pet friendly and offer convenient access to downtown Denver and to various transportation corridors. Denver International Airport is approximately 12 miles away.
“The demand for luxury leased detached communities is growing as renters look for modern alternatives to the typical apartment experience,” Jason Stowe, vice president at Trez Capital, said in a prepared statement. “Both Brighton and Commerce City have seen tremendous growth over the past few years, and housing like Avilla Homes is an attractive option for both current and new residents.”
Image courtesy of Trez Capital