Newmark announces the Company has facilitated $83.8 million in financing for The Deveraux, a newly constructed, 374-unit trophy multifamily community with 21,000 square feet of Class A retail space located in the vibrant River North neighborhood.
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.
