The financing was secured through bank lease-up execution on behalf of an undisclosed borrower. Newmark Vice Chairman Lee Redmond and Vice President Nick Schroeder arranged the financing in collaboration with Managing Directors Courtney Crowder and Jack Kachadurian, who provided local market expertise to support the transaction.
“The Deveraux’s remarkable leasing success highlights its position as a premier multifamily asset,” said Redmond. “We are proud to have facilitated this significant financing, which reflects the strength of the property and the confidence of the lending community in Denver’s dynamic RiNo neighborhood.”
The property, delivered in July 2024, features a mix of studio, one- and two-bedroom floor plans averaging 732 square feet. Despite significant supply in the RiNo submarket, The Deveraux has demonstrated exceptional leasing velocity, underscoring its appeal and strong market demand.
According to Newmark Research, Denver remains one of the nation’s most active markets for new multifamily deliveries, with elevated completion levels expected to continue through 2025 as the surge of 2021–2022 starts comes online – particularly across urban-core submarkets like RiNo.
About Newmark: Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about Newmark: Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
